The PRC largely keeps their bourgeoisie in line by holding almost all of Heavy Industry and large firms in the Public Sector. The owner of a rubber ball factory has far less influence over the economy than the Rubber Factory. In the PRC, banking, energy, steel, infrastructure, and many more critical industries the Private Sector must rely on are held in Public hands. That’s the basis of SWCC.
Time will tell if this was the “correct” choice, but so far the gamble appears to be paying off. There’s a long way to go, but the path forward is open and not closed.
The PRC largely keeps their bourgeoisie in line by holding almost all of Heavy Industry and large firms in the Public Sector. The owner of a rubber ball factory has far less influence over the economy than the Rubber Factory. In the PRC, banking, energy, steel, infrastructure, and many more critical industries the Private Sector must rely on are held in Public hands. That’s the basis of SWCC.
Time will tell if this was the “correct” choice, but so far the gamble appears to be paying off. There’s a long way to go, but the path forward is open and not closed.