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A business cycle
Value form
China also hasn’t experienced a real boom/bust cycle. It has more or less escaped every single recession that hits other countries, from the 1997 Asian financial crisis to the Great Recession to Covid. In China, the Covid recession just meant their economy grew less than projected, which is extremely good if your “recession” just meant slightly less economic growth.
At a certain point, you can’t just attribute their economic success to them being really really smart and really really lucky capitalists. The entire economy is structured to either avoid or mitigate the effects of the boom/bust cycle. And since boom/bust cycles are inherent in a capitalist economy, then where does that lead us?
Ima get back to you on this as their does exist hard econmic data on this. To be charitable to your argument you have clearly put time and effort into but let’s me propose that even basic social democracy attempts to mitigate captliat recession cycles but does that nessartly make Norway socialistic? I’m not so sure I could plaster a hammer and sickle on the American flag and do new deal management of the economy would that only leave me with only label socialist? China being socialist or not reminds me of the Brenner, wallerstien debates which makes me kinda depressed we on the left have been debating this set of ideas since Lenin but we talked about it in more intelligent honest way with our selves. :trans-sad:
