Sorry Joe, I completely disagree: the communist party, as I read things, absolutely controls the economy. The owners of the industries may be in private hands, owned by individuals; but they are only allowed to do only what the Party allow them to do.
Let's put it this way: Do you believe there's an independent judiciary that protects the property rights of businessmen and women and their privately owned businesses? If the Party wants to seize a business do you think that owners can go to a court and stop it? And a court will overrule the Party's wishes? I don't believe that's remotely possible. Is there an example of a Chinese court striking down an order by the Party? Overruling their authority? I think that is impossible in their system.
Remember that under the Nazis that industry was held by private individuals. But they were totally subservient to the state. It's quite similar.
Nazi Germany was a socialist dictatorship. The government determined what could and could not be manufactured and generally set quotas on the quantity on each product. It was a government-controlled economy, which is a big reason why their weapon production fell so far behind America’s.
The fact the Chinese government can seize a privately owned business at any time doesn’t matter, so long as they generally don’t. The government does not determine what products can or cannot be produced. It does not set the quantities. It does not set the prices of the goods that are sold within China or outside of China. It’s control of the economy is minimal.
A country is not socialist because it is a dictatorship and it can, any time it wants to, seize control of a company, or all companies, and institute a socialist economy. As long as it lets the free market reign, it is a capitalistic country.
And I should point out that supporters of socialism want to, desperately, point out an example of a successful socialist country. And generally, point to a “socialist” country that really isn’t. So, the Scandinavian countries are given as examples, even through they are really free market, capitalistic economies, with a high tax rate. A high tax rate does not make a socialist economy. A government-controlled economy where quantity of products produced and their prices are set by the government, not by the free market.
