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There are many western commentators who, apparently in profound dismay that a country which holds up the banner of socialism could be so economically successful, tiresomely deny that China practises socialism and insist that it is instead capitalist.
Author Jeff Brown wrote that China is “history’s most successful socialist and communist country.”
This conflation of communism and socialism is common but inaccurate. It fudges that, according to Marxist thought, socialism is an earlier stage in the process of reaching the end goal of communism.
That writer Ron Leighton asserts in his piece that “China is Capitalist” is rather simplistic. Laissez faire capitalism, neoliberalism, and exploitation of other nations are antithetical to Chinese political-economic practice.
Socialism: “a theory or system of social organization that advocates the ownership and control of the means of production and distribution, capital, land, etc., by the community as a whole, usually through a centralized government.”