Facts Tell A Different Story
China has billionaires and is a top destination for foreign direct investment. It has thousands of branches of Starbucks and KFC, along with significant private ownership of capital. It suffers from different levels of inequality. These factors lead many to question whether it really is what it claims to be: a socialist country.
China’s leaders are very clear that socialism with Chinese characteristics is socialism, not any other “ism” and that “only socialism can save China.” Elements usually associated with capitalism have been purposefully used in order to increase productivity, attract investment, encourage technical development, and support peaceful coexistence with the capitalist world. This has all proven invaluable in improving the living
