Because it has private property in the marketized sectors of the economy. The CPC takes a Marxist view of economics that sees markets as progressive with respect to decentralized, underdeveloped production, and regressive with respect to large scale production. The commanding heights of the economy are overwhelmingly socially owned, while developing sectors are marketized to accelerate the process of socialization, which speeds up the effective rate of collectivization.
You don’t need them for progress, sure, but marketizing underdeveloped sectors sure benefits workers more than dogmatically treating planned economy as the most effective in all cases at all levels of development. China already tried your approach under the Gang of Four, and this was seen as a misstep.
China has been socialist since 1949.
how come it has billionaires then
Because it has private property in the marketized sectors of the economy. The CPC takes a Marxist view of economics that sees markets as progressive with respect to decentralized, underdeveloped production, and regressive with respect to large scale production. The commanding heights of the economy are overwhelmingly socially owned, while developing sectors are marketized to accelerate the process of socialization, which speeds up the effective rate of collectivization.
its just the “for progress” excuse.
You don’t need billionaires or exploitation of workers for progress
You don’t need them for progress, sure, but marketizing underdeveloped sectors sure benefits workers more than dogmatically treating planned economy as the most effective in all cases at all levels of development. China already tried your approach under the Gang of Four, and this was seen as a misstep.