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I wouldn't go that far. They've adapted over the years, just like our economy/government has gone from Capitalism to Corporatism.

They successfully transmogrified it into state capitalism.

One could argue that real-socialist or "communist" states were actually running capitalism all the time, although a degenerate form where the state was the only monopolist.

I mean, people there work for a wage, someone else extracts the surplus value, people buy the products of their labour on a kind of market with said wage, most people are miserable, those who control the means of production get filthy rich and have a lot of power, and hilarity ensures. This is basically the definition of capitalism according to Marx.

Well China hasn't really been Communism for a long time. They still hold that name for sure. But for those who know they are even more capitalism then you could imagine.

What a bizarre response.

Bizarre response? You should learn to recognize a bit of dry humor when you see it.

As equally as we can say Capitalism hasn't panned out either since the banks needed bailing out.

I Would Rather Cry In A BMW