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>China is ruled by a Communist party and they subscribe to communism

That's just outright incorrect.

https://www.wikiwand.com/en/Socialist_market_economy#/Market...



State Capitalism where they can take part or most of your wealth away at any time may be much closer to State communism.


What is incorrect about my statement? In case you don’t know or want to be reminded, the name of the ruling party in China is called ‘China Communist Party’.




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