Like most modern system, China has some of both, although China leans more toward socialism than the USA or the West generally. Their system is more or less the same thing as Lenin’s New Economic Policy.
Will China resist financialization and lead the way on climate policy, or is it a form of capitalism that will not reduce inequalities much further and isn’t serious about phasing out fossil fuel? Michael Hudson and Patrick Bond in a discussion about what we can expect from the CCP. Note: this was recorded before the Russian invasion of Ukraine.
