And the IEA, for its part, expects China to continue to be the sole meaningful over-achiever. It recently revised upwards by 728 GW its forecast for total global renewables capacity additions in the period 2023–27. China’s share of this upward revision? Almost 90 percent. While China surges ahead, the rest of the world remains stuck.
Let’s not call China socialist when a single party dictates larger economic trends in an otherwise competitive global market. It’s just not “free” as in free market capitalism.
Otherwise I completely agree with the weaknesses of the western capitalist systems.
Global market. China itself is socialist (not as far along as the USSR’s fully planned economy, but even the USSR used a state-driven market economy for its first 20 years with Lenin’s NEP), i.e. the state uses the market for the good of the people, including when that goes against capitalists’ interests. You’re commenting on a post with an article talking about just that.
We’ve also been seeing this the last few months with how they’re tackling the real estate “crisis” by letting real estate developers go bankrupt and refusing to bail them out like capitalist countries do.
I don’t think you understand socialism tbh
You’re describing socialism.
Well, so long as that party directs it in the interests of the people rather than capitalists, as is the case for China.