Memes

Yes we do. The PRC is in the developing stage of socialism. The large firms and key industries are publicly owned, the medium firms are heavily controlled and planned, and as they grow they are further integrated into the planned nature of the economy. This is the general path to sublimating property and gradually collectivizing it. The US Empire, on the other hand, has private ownership of the large firms and key industries, and runs on imperialism, ie vast expropriation of wealth from the global south via financial and millitary domination.

I suggest reading Marxist-Leninist theory, if you want somewhere to start, I wrote an introductory reading list targetting those interested in theory but who don't know where to start.