Originally Posted by
yzb25
I think China is probably best understood as "nuanced communism". When capitalist economies started out, they had a hardcore laissez faire approach with child miners and no social safety net and very little state interference. We realized that it was inhumane and extremely inefficient, so we moved towards a more "nuanced" capitalism, with the state owning lots of public utilities, transport and healthcare, as well as micromanaging the crap out of companies. There's more regulation than one person could ever read. The same thing happened in China but in reverse.