An important part of capitalism’s anti-communist propaganda is that socialism has not been able to deliver the prosperity of capitalism. However, the prosperity that was delivered by capitalism has not been in place for 45 years since finance capitalism rose to power.
China as a socialist country has been more prosperous than any capitalist country in history with a growth rate of 10% over the last 20 years. Contrary to capitalists’ claim that only private industry generates innovation, China’s state controlled enterprises have been responsible for most of its profits.
Read more in Friends of Socialist China
False claim.
China has not been “communist” anymore for 20 years now.
They quietly changed their constitution 20 years ago.
– Private business, means of production are private again. It is now market-oriented. Capitalist.
– People’s private property is protected, including inheritance. Capitalist. Civilised.
That’s when after decades of communist poverty decline, the country’s economy started to grow again. Visible on any chart of Chinese real GDP..
*) Change in Chinese Constitution, Article 11:
“The State permits the private sector of the economy to exist and develop. The State protects the lawful rights and interests of the private sector of the economy.”
*) Change in Chinese Constitution, Article 13:
“The lawful private property of citizens may not be encroached upon. The state protects by law the right of citizens to own private property and the right to inherit private property.”
To think that China has to have no capitalism in it in order to count as a communist country is very naive. In a world filled with declining capitalist powers to think you can set up a completely non-capitalist economy is unrealistic. What matters is that the state controlled enterprises in China make the highest profits and they are controlled by the Communist Party.