China and India are communist/socialist countries, doofus.
yes, they are yet we still buy inferior and dangerous goods from China and both countries suck up industrial jobs like a mop from more capitalist nations.
If capitalism was self regulating, why are the communist/socialists countries being rewarded by it?
The capitalism they do practice is how they pay the bills. America votes with its' dollars. People don't want to pay for high priced union made goods if they have an option. That's a fact. Also over regulation is killing business. People think if you're in business you are wealthy and can afford to hand over more and more money to government.
So poisonous dry wall,lead laced paint and toothpaste is preferable? Sweat shops and cheating of migrant workers out of their pay is preferable? Devaluation of currency to manipulate trade is preferable?
That is the Chinese form of capitalism--where is the self regulation? There is None--Chinese Capitalism is off the rails!!
China is a communist state, doofus.
A communist state that competes in the open market. Their performance and how the free market influence their behavior is the focus.
So far, the free market has rewarded this communist states questionable practice.
By the way, China communism is a form of State Capitalism
State capitalism is usually described as an economic system in which commercial (i.e.
for-profit) economic activity is undertaken by the
state, where the
means of production are organized and managed as
state-owned business enterprises (including the processes of
capital accumulation,
wage labor, and centralized management), or where there is otherwise a dominance of
publicly listed corporations of which the state has controlling shares.
[1] Marxist literature defines state capitalism as a social system combining capitalism—the
wage system of producing and appropriating
surplus value—with ownership or control by a state; by this definition, a state capitalist country is one where the government controls the economy and essentially acts like a single huge
corporation, extracting the surplus value from the workforce in order to invest it in further production.
[2] This designation applies regardless of the political aims of the state (even if the state is nominally socialist),
[3] and many people argue that the modern
People's Republic of China constitutes a form of state capitalism
[4][5][6][7] and/or that the
Soviet Union failed in its goal to establish socialism, but rather established state capitalism.
[8][9][3]