this post was submitted on 17 Nov 2025
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[–] Cowbee@lemmy.ml 9 points 2 weeks ago (1 children)

The PRC is a socialist country. The commanding heights of industry are overwhelmingly publicly owned and controlled, the state is under the control of the working classes, and public ownership is the principle aspect of the economy. Socialism isn't the absence of markets or private property, but a transitional mode of production between capitalism, where private ownership is the principle aspect and the state under the control of capitalists, and communism, a stateless, classless, moneyless society where production and distribution are fully collectivized and run according to a common plan to fulfill the needs of all.

History exists, and the failures of those to successfully reform capitalism into socialism from within are important lessons.