The difference with China is that capitalists don’t run the government and all the core economy is publicly owned. I can highly recommend this book discussing why China is fundamentally socialist
I find that comparing how China and India developed after WW2 is illustrative as well. India took the capitalist route while China remained socialist, and the difference today is stark. India has incredible amount of poverty and the situation continues to get worse, meanwhile China is responsible for the biggest poverty elimination programs in the world. The fact that China is developing differently from capitalist nations is a good indicator that something different is happening there.
The difference with China is that capitalists don’t run the government and all the core economy is publicly owned. I can highly recommend this book discussing why China is fundamentally socialist
https://redletterspp.com/products/the-east-is-still-red
This was an excellent discussion on the subject as well https://www.youtube.com/watch?v=BT7Th2aV0wM
I find that comparing how China and India developed after WW2 is illustrative as well. India took the capitalist route while China remained socialist, and the difference today is stark. India has incredible amount of poverty and the situation continues to get worse, meanwhile China is responsible for the biggest poverty elimination programs in the world. The fact that China is developing differently from capitalist nations is a good indicator that something different is happening there.
Will take a look, thank you!