capitalism is when the corporations are by themselves private entities with a superable bureaucracy from the government. It's the difference between Amtrak and Union pacific.
Chinese corporations are government owned and managed. Nearly all are practically like Amtrak. In addition, privat property doens't exist.
Private property does exist - see Civil Code of the People's Republic of China. You can own a home, or an iPhone for example. Private businesses (Chinese owned like Temu or foreign owned like, say, Amazon China) also exist as well as the State Owned Enterprises that mostly cover key infrastructure. Its state capitalist, but it's capitalist.
Personal property: toothbrush, flatware, clothes, a PC, a home, a personal business like a cafe
Private property: utility providers, factories, farms, grocery stores, possibly even retail outlets selling personal property
See the difference?
China is strange; they have different "economic zones." Places like Hong Kong are a "capitalist zone," where foreign enterprises, like Amazon China, are allowed to incorporate and operate.
It's only land which cannot be privately owned in china. You can own a factory, so you can own a means of production and you can extract profit within a competitive market. Americans seem to have a peculiar view that if you don't own the land it's not private property. That view doesn't colour how the rest of the world operates!
Sooo... if Chinese government decides they want the land the factory you own is currently on, then what? Do you get to tell them to pound sand and figure somewhere else? Or do they simply take it, bulldoze your factory, and say "better luck next time?" If the government can annihilate your "means of production" without recourse any time it wants to, you don't "own" any private property. You operate at the pleasure of the government.
True enough. Eminent domain has been challenged often enough though that there would be recompense or recourse for the factory (and land) owner at that point. In fact, the Fifth Amendment requires that just compensation be provided in such instances. I doubt there is any in China.
There is some stuff that happens in China it's not a complete what Xi says goes. It's why you see those videos of a highway that has a old ass house in the middle of it. That said the government does have way more powerful levers to pull to make something happen which we also pulled to get things like the interstate system made.
What on earth has that got to do with capitalism/state capitalism? Do you think business all own their factories and offices? Do you think leasehold housing only exists in China? You get a legal agreement to use the land for the term of the lease.
Most businesses do own their factories if they produce something that is proprietary or of value. Most do not lease office space because plenty of others have built office buildings for lease and it makes more business sense to lease rather than buy. An office is an office, regardless of where it is located.
The point is that if you do not own the land, then you have to renew the lease and BOTH parties have to agree to the lease renewal. You could live somewhere for 20 years and suddenly the owner decide they don't want to lease to you anymore and you are SOL. The same thing can happen in other countries, sure, but in other countries there is an option to buy land so that you can avoid that possibility in the future. That is not the case in China. That's the problem the other poster is trying to convey. That's what makes it not capitalism. You have personal property, but not private property. That is a major component of capitalism, and it's absence means the economy is not capitalism, though it may adopt some ideas from it.
Americans struggle to let go of their peculiar definition of private property. Leases are typically 50 years, 100 years... You're not letting them run down then trying to renegotiate it to keep your home or your husiness. You have ownership, a competitive market economy, and profit - it's capitalism. Add a totalitarian regime - its state capitalism.
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u/OkContact2573 7h ago
It...really isn't.
capitalism is when the corporations are by themselves private entities with a superable bureaucracy from the government. It's the difference between Amtrak and Union pacific.
Chinese corporations are government owned and managed. Nearly all are practically like Amtrak. In addition, privat property doens't exist.