China abandoned socialism because they use markets.
No, but because most money, gdp (3/4), companies and work (80%) etc is fully privately owned with no state ownership at all, because the workers rights are not improving (gig economy booming, retirement going up, vacation being 5 days per decade of work experience, no practical sick leave, the second employment system), because giant companies are slapped on the wrist for transgression and personal C-levels punishments for shit they do like Pinduoduo
Go read up on the concept of the commanding heights of the economy. Not to mention the fact that the party owns the golden share in all major companies, and has members on the board. You could watch an explanation of how the economy in China actually works here https://www.youtube.com/watch?v=6E89qUXTX-k
No, but because most money, gdp (3/4), companies and work (80%) etc is fully privately owned with no state ownership at all, because the workers rights are not improving (gig economy booming, retirement going up, vacation being 5 days per decade of work experience, no practical sick leave, the second employment system), because giant companies are slapped on the wrist for transgression and personal C-levels punishments for shit they do like Pinduoduo
please stop smoking crack, it’s not good for you https://www.piie.com/research/piie-charts/2024/chinas-private-sector-has-lost-ground-state-sector-has-gained-share-among
You do know those are not the same? Its literally like saying that USA citizens live good life because S&P is over 50k.
Edit: and if you don’t believe me about gdp, here you have PRC press release from 3 years ago about Privately owned enterprises (POE means no government shares) http://english.scio.gov.cn/m/pressroom/2022-06/29/content_78295756.htm , ans here you have Daecheng Institute listing pure State Owned Enterperprise GDP https://zhuanlan.zhihu.com/p/720545740 at below 30%.
Go read up on the concept of the commanding heights of the economy. Not to mention the fact that the party owns the golden share in all major companies, and has members on the board. You could watch an explanation of how the economy in China actually works here https://www.youtube.com/watch?v=6E89qUXTX-k
Or even better, actually read a book https://redletterspp.com/products/the-east-is-still-red or two https://1804books.com/products/chinas-great-road would be a new experience for you.
That sounds more like Worst Korea than China or Vietnam.