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In my view, the Chinese economy remains at a structural crossroads. The state and state enterprises continue to dominate the economy in investment, employment and production. That means that foreign capital, domestic private capital and market forces do not hold sway, even though they have been increasing in weight and power over the last 30 years.
My view is controversial in Marxist circles. The vast majority of Marxist economists and ‘experts’ on Marx’s ‘theory of the state’ reckon that China is capitalist or ‘state capitalist’. But for me, the class nature of the Chinese state remains open.
All I would add at this point is to remind readers of the data that I published in a past post on the sheer weight of the public sector and public assets in the Chinese economy.
full: https://thenextrecession.wordpress.com/2018/02/02/trading-economics-the-chinese-way/
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