this post was submitted on 31 Aug 2025
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[–] Cowbee@lemmy.ml 15 points 5 days ago (1 children)

That's a very liberal understanding of socialism, and explicitly rejects the fact that China is in the beginning stages of socialism, not claiming it's a higher stage. The large firms and key industries are publicly owned, while the medium and small firms are cooperatively owned, privately owned, or joint-stock. Cheng Enfu made a model to make it easier to understand: