Such “socialism” will simply degenerate back into capitalism as it cannot eliminate the markets, as it cannot have a planned economy. Markets always lead to competition, which leads to consolidation and accumulation.
Markets breeding competition and competition leading to consolidation is economics 101, i don’t think anyone regardless of ideology disputes this.
As for China, they indeed have markets, ever since the reforms of Deng. China has been liberalising ever since said reforms. The Chinese economy isn’t socialist, only some parts of it are owned by the state, lots of the industry is privately owned. Not that China started as an anarchist commune to begin with. Right now China is liberalising further, in the future they will either completely abandon socialism and embrace social democracy, or essentially have a new revolution nationalising all private industry. Time will tell, but judging by Xi’s rhetoric, the former sounds likelier.
Such “socialism” will simply degenerate back into capitalism as it cannot eliminate the markets, as it cannot have a planned economy. Markets always lead to competition, which leads to consolidation and accumulation.
Okay Buddy, make assertions and leave. That’s how something becomes a fact.
China didn’t eliminate markets.
Markets breeding competition and competition leading to consolidation is economics 101, i don’t think anyone regardless of ideology disputes this.
As for China, they indeed have markets, ever since the reforms of Deng. China has been liberalising ever since said reforms. The Chinese economy isn’t socialist, only some parts of it are owned by the state, lots of the industry is privately owned. Not that China started as an anarchist commune to begin with. Right now China is liberalising further, in the future they will either completely abandon socialism and embrace social democracy, or essentially have a new revolution nationalising all private industry. Time will tell, but judging by Xi’s rhetoric, the former sounds likelier.
Okay Buddy