You're confusing socialism with 'government involvement' -- admittedly a mistake many Americans seem to make.
'Socialism' in the classical sense is definitely business unfriendly. Its foundation is a critique of private ownership of factories, workplaces, and other 'means of production'
Socialism means social management of the economy. That need not involve the state at all. And it may not describe China at all, depending on your definition of 'social', regardless of what the Communist Party says about itself.
"Socialist" certainly does not describe Singapore, which neither calls itself socialist, nor acts socialist.
'Socialism' in the classical sense is definitely business unfriendly. Its foundation is a critique of private ownership of factories, workplaces, and other 'means of production'
Socialism means social management of the economy. That need not involve the state at all. And it may not describe China at all, depending on your definition of 'social', regardless of what the Communist Party says about itself.
"Socialist" certainly does not describe Singapore, which neither calls itself socialist, nor acts socialist.