And the IEA, for its part, expects China to continue to be the sole meaningful over-achiever. It recently revised upwards by 728 GW its forecast for total global renewables capacity additions in the period 2023–27. China’s share of this upward revision? Almost 90 percent. While China surges ahead, the rest of the world remains stuck.
Global market. China itself is socialist (not as far along as the USSR’s fully planned economy, but even the USSR used a state-driven market economy for its first 20 years with Lenin’s NEP), i.e. the state uses the market for the good of the people, including when that goes against capitalists’ interests. You’re commenting on a post with an article talking about just that.
We’ve also been seeing this the last few months with how they’re tackling the real estate “crisis” by letting real estate developers go bankrupt and refusing to bail them out like capitalist countries do.
But isn’t the means of production still mostly controlled by capital owners? Sure, some industries are influenced by the government, but that is also the case in the West. The plan is certainly more detailed for China, but to me Socialism always meant labor is controlling the means of production. How’s that the case when an elitist single-party government influences the capital owners?