Actually, this town has more than enough room for the two of us
He/him or they/them, doesn't matter too much
Marxist-Leninist ☭
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Public ownership is the principle aspect of the economy, and the working classes control the state in China, it's therefore socialist. Socialism isn't the absence of private property, it's the gradual transformation of capitalism into communism, and as such the growth of secondary and medium firms creates new billionaires in China. What happens over time though is that these firms, as they grow, are folded into the public sector.