Answer:
China's economy isn't communist.
Explanation:
China's economy isn't purely communist. Explanation: Most economists have commonly come to the consensus that China's economy is more of a corporatist one; the state collectively, while not holding ownership of its public companies - still effectively maintains a firm grasp over the public sector. It is important to note that the public sector control over the economy is NOT capitalism; the private sector in China's economy is virtually nonexistent and is limited down to the "black market." Marxist (or communist ideology)'s definition of socialism narrows down to collective ownership of the means of production, obviously because the state does not own its corporations or all industries - it cannot be labeled a communist economy. It was only up until later, after Mao Zedong's death and his Great Leap Forward not being as effective as anticipated, that China began to allow for corporatism to take shape. The heat of the debate here comes from one's political interpretation. If you ask a Marxist (or a social democrat arguably), they will tell you that China's economy is communist and proves just how effective communism is relative to economic growth, pointing to China's economy growing faster than any other. While if you ask a Nationalist, a Nazi, or a Fascist, they will tell that this proves public sector domination success in the Chinese economy only evinces the truth that the private sector is what causes the endless cycle of decay in capitalist economies. While if you ask a neoliberal or classic liberal, they will tell you that corporatism is built on the exploitation of the individual, and the economy is only shiny on the surface. Of course, this is open for debate, and I pretty much just summed it up in a nutshell.
