Comments by "K Shen" (@kshen7485) on "Under Xi's Third Term, China Will Stay Exactly The Same | World In :60 | GZERO Media" video.

There is no “state capitalism” in China at all, it has been only a socialism country with Chinese characters since 40 years.
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@benbyler9807 According to definition of Wikipedia, "Capitalism is an economic system based on the private ownership of the means of production and their operation for profit". In the Western countries the most resources is owned or occupied by private or individual, the companies get profit only for themselves, their selfishness and greediness decided they could not have a national or international long term plan both for themselves and their country. In China government owns >80% national resources and they all would paid back to its citizens and serve them in different areas, like infrastructure, education, employment and national defences... China indeed has gradually bigger private sectors, which belongs to capitalist’s activities only, but state owned businesses are still dominating and effectively regulating the Chinese market and play the main role as the national economical "balancer and stabilizer" during either normal situation or any crisis in the people's basic life.
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@benbyler9807 Remind you, unlike your capitalism society, Chinese economy is dominated and supported by those huge scale of state-owned enterprises, instead of those private companies. Those state-owned enterprises establish and maintain the solid foundations in all Chinese economical aspects. Chinese socialism system is so resilient and durable that it can easily deal with any accident, natural disaster and foreign attack, like 1997/2008 big economical crisis and those biochemical wars with SARS and Covid19.
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