this post was submitted on 22 Oct 2025
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Public ownership is the principle aspect of China's economy, governing the large firms and key industries, and the working class has political dominance over capitalists. China is a socialist country, and is working towards higher stages of socialism.
and to add a visual aid here
https://www.piie.com/research/piie-charts/2024/chinas-private-sector-has-lost-ground-state-sector-has-gained-share-among
Yep, very good visualization!
But aren't there competitive corporations which are owned by rich people in China? And doesn't chinese government extract as much information from its citizens as possible (even more than european governments) like the case in DeepSeek? It may seem to be authoritarian but I think it's also a sign of consumption habbits extraction. Correct me if I'm wrong.
Socialism is not defined by the total absence of private property, but by what is principle, and in China that's absolutely public ownership with the working class in control. Further, it doesn't take especially more data than European, Statesian, etc. governments.