That is a fairly simplified view which is very convenient for particular Western political interests but I don’t see it as a reflection of reality.
The Chinese have “capitalism” with significant public investment in infrastructure and education. Bullet trains can take you everywhere on the cheap. Few foreign companies have been successful due in some part to protectionism (but also failed business models). Their markets are highly regulated, preventing mergers and IPOs of large companies. Ant Group for example. Jack Ma was severely punished for even suggesting that bank regulators ease up. They also have strict data regulations.
On the other hand, workers’ rights are a lot more curtailed. A lot of tech works 996, and unionization is pretty rare. Getting 2 days off per week isn’t the norm like in the US. And forget about OSHA. So in that sense they are almost hyper-capitalist.
The point is, I don’t think it fits cleanly into the ideologies that many would like to apply to them.
The question is if the regulation and intervention is for the greater good, or is it because someone in the CCP took a bribe or saw an opportunity to steal the company from the rightful owner.
The Chinese have “capitalism” with significant public investment in infrastructure and education. Bullet trains can take you everywhere on the cheap. Few foreign companies have been successful due in some part to protectionism (but also failed business models). Their markets are highly regulated, preventing mergers and IPOs of large companies. Ant Group for example. Jack Ma was severely punished for even suggesting that bank regulators ease up. They also have strict data regulations.
On the other hand, workers’ rights are a lot more curtailed. A lot of tech works 996, and unionization is pretty rare. Getting 2 days off per week isn’t the norm like in the US. And forget about OSHA. So in that sense they are almost hyper-capitalist.
The point is, I don’t think it fits cleanly into the ideologies that many would like to apply to them.