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China’s Abandoned, Obsolete Electric Cars Are Piling Up in Cities
(www.bloomberg.com)
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this post was submitted on 23 Nov 2023
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Technology
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Capitalism dictates maximizing profit by any means, including taking free money from the government.
A government giving out targeted free money, is not an "unrestricted capitalism" government.
China, is an aggressively capitalist society, colliding with a strongly communist facade. Or a disaster in slow motion.
China is an instance of State Capitalism, where the government owns the means of production, and uses it for profit-generation. The only reason that anyone in the West actually believes it's at all Communist is because we're so indoctrinated by Red Scare propaganda that most people can't tell the difference between "workers own" and "the government owns", since the only kind of private ownership we recognize is ownership by corporations and plutocrats.
Ownership by an autocrat or by an oligarchy is not public ownership.