this post was submitted on 02 Feb 2026
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China is actually a socialist democratic state, that is the political doctrine, their party was formed by marxists and communists but this applies to all current socialist states when looking at the origins of their governing bodies and the creation of those states. For the economic doctrine, they just really used their head and created a very well executed model that is relatively new in economy.
It's usually called a social market economy and it uses the best traits capitalism can offer for growth and scale whilst containing it so it remains innovative and improves the economic situation of it's citizens. It's well secured to not allow internal corruption (see what happened when Jack Ma thought he was as polically powerful as US billionaires) and structures like state councils to approve or refuse mergers if they deem it attempts at building monopolies. Wether it will fail or not, all economic models have always had one thing in common; they are born, change through time and evolve and die eventually. That is their only common trait aside from their fundamental nature in being ideological systems to manage ressources. Capitalism may die within the next 100 years if the trends of what has happened in the last 20 years keep themselves up but yeah, it should not be dismissed because of the historical chinese/western frictions.
China produced more billionaires than the US this year. The only way they accomplished this is to allow unfettered capitalism which is very evident. There is no going back and the billionaires will be calling the shots before to long. They are just another fascist nation at this point and the fourth/fifth largest producer of weapons to boot.
The difference between Chinese billionaires and American billionaires is that the Chinese ones are owned by the government. To set up any company in China requires part government ownership of, I think, 15%.
There is no way the billionaires are calling the shots, ever, while Xi is in power. As if he would allow what's happening in America, happen in China.
Remember what happened to the CEO of Alibaba? Jack Ma? When he became rich enough to potentially take over the country?
Lol sure, they won't be calling the shots. I think you forget how capitalism works.
What happens when there are a thousand billionaires? The government is not going to round them all up. Naw, they are going to call the shots.
Already corporations keep getting more and more regulations and laws written at their request. It is already happening and will continue to accelerate.
Welcome to the fascist world.
But China isn't a crony capitalist country like America. The money is set up to always favour the government over there.
Things are the way they are in places like America because the government exists because of the billionaires (bribery, lobbying etc). In places like China, the billionaires exist because of the government (surveillance, prison sentences etc). This is most likely because Xi is driven by ideology, not greed.
The only way for the billionaires to take over China at the moment is to come together and start their own army to go to war. No way that's going to happen because wars are a drain on capital.
China is controlled by a group of wealthy elite people. The wealthy people don't need to make an army to take control just like the wealthy people of the US don't. You seem to be confused about how things really work.
I am sure there are interesting power dynamics between old and new wealth in China just like the US. As their wealthy class explodes so will their their proxies the corporation thus increasing their power to lobby. The fascist cycle repeats.