fridi

The Chinese experiment, i.e. the splitting of the communist social and political system into a political dictatorship and a quasi-market economy of the so called Far Eastern type, has failed. In China, the market economy is private, but under the full control of the Communist Party. They've given ownership of the large corporate groups to private citizens and allowed new ones to flourish, but only under the control of party bureaucrats. These work for their own interests and benefit, but under the political umbrella of the Chinese Communist Party, which takes its due share from the profit.

All of this should be taken into account when we're viewing the ongoing US-Chinese trade war...