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To: Kaslin

They’re a communist country. Why do they need wages at all?


8 posted on 05/15/2019 4:34:51 AM PDT by Behind Liberal Lines (Their side circles the wagons. Our side revs up the bus.)
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To: Behind Liberal Lines
They’re a communist country. Why do they need wages at all?

Actually, they are not. China has embraced Capitalism with some parts of socialism in such things as health care. . . They learned that communism just doesn’t work. They found that after several decades of “five year plans” with commissars in charge of various sectors of their economy, that the commissars lied about results, and no matter how rosy they reported their production, it was always worse then reported, increasing goals based on lies, always resulted in less and less, until they almost nothing. Governmentally, they are still a state dictatorship with a nominally “official” communist politburo, but the economy is now fully operationally State Capitalism.

Some aspects of Chinese economy are operated in a socialist model, such as state owned power generation, shipping, and some banking, along with some public/private business partnerships and some wholly government owned businesses such as Huawei cellular phone company, but those companies are competing against similar businesses in the same industries. . . but even these often go “public” by offering stock on the Chinese stock exchange to raise funds. The government owned businesses have a big advantage in financial backing. The Chinese have eschewed the centralized planning that denotes a communistic government and adopted market driven decision making.

43 posted on 05/15/2019 10:57:02 AM PDT by Swordmaker (My pistol self-identifies as an iPad, so you must accept it in gun-free zones, you hoplaphobe bigot!)
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