Progressive Politics

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TokenBoomer

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Economy of China Explained: A Socialist Market Economy (www.profolus.com)

submitted 3 days ago by TokenBoomer to c/progressivepolitics

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China is not a capitalist country. The CPP retains control of the direction of its economy. However, similar to a market economy, price signals created by the forces of supply and demand influence decisions regarding investments, production, and distribution.

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[–] [email protected] 2 points 3 days ago

If there are billionaires, it’s capitalism. End of story.