It's supposedly "communist" yet it is capitalist or something. Whatever they are doing it is working because they are on their way to being a world superpower. Can anyone explain to me how the Chinese economy is set up? Is it communist/socialist or just capitalist?
Well, since China is a communist nation, what's supposed to happen is that the government owns every buisness, and all the profits those buisnesses make go to the government, which the government is then supposed to spend on social programs to help the rest of the people. That's what the Chinese government will tell you. As to how they make their money, they have over a billion unskilled laborers working in manufacturing and similar jobs, with little to no environmental and labor regulations. China then corners the market in cheap labor which makes a select few people in the country rich enough so that they can hire scientists and engineers to start to break into the "higher" forms of industry.
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