The PRC is Socialist and run by Marxist-Leninists, large firms and key industries are firmly in the public sector, while the private sector is largely cooperatives, sole proprietorships, and small firms. This is classically Marxist. I elaborate more on this here.
Marxist economics. The reason it’s applicable is because China’s strategy isn’t at all in the same suit as Japan, the ROK, Taiwan, etc. China’s Socialist economy is built on public ownership of large firms and key industries, not just “window guidance,” and China isn’t racking up debt to do it.
Political Economy, ie Marxism.
China isn’t Marxist so I’m confused wtf that has to do with anything.
The PRC is Socialist and run by Marxist-Leninists, large firms and key industries are firmly in the public sector, while the private sector is largely cooperatives, sole proprietorships, and small firms. This is classically Marxist. I elaborate more on this here.
Specifically though, which part is relevant here?
Marxist economics. The reason it’s applicable is because China’s strategy isn’t at all in the same suit as Japan, the ROK, Taiwan, etc. China’s Socialist economy is built on public ownership of large firms and key industries, not just “window guidance,” and China isn’t racking up debt to do it.