this post was submitted on 21 Apr 2025
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The PRC is Socialist and run by Marxist-Leninists, large firms and key industries are firmly in the public sector, while the private sector is largely cooperatives, sole proprietorships, and small firms. This is classically Marxist. I elaborate more on this here.
I didn't realize banks, financial trade, and currency were also classically Marxist.
What do the PRC do that is socialist? I'm honestly asking because I haven't seen them do anything socialist.
Click the link, I already answered. Large firms and key industries are in the public sector, public ownership is the principle aspect of China's economy. It is employing a Marxist strategy of building towards full socialization and abolition of the value form.