[nvm0n2]

How can you have both brutal capitalism and regulated markets? Those are normally presented as opposites, as in, "we regulate markets to soften the impact of raw capitalism".

China isn't really a capitalist country. It's more capitalist than it used to be in the 70s, but as this refusing-to-liquidate nonsense shows, the basic rules of capitalism don't really work there. China ignores many things that are required to really do capitalism properly:

- IP rights aren't enforced

- Other kinds of property rights aren't enforced (see the ARM subsidiary that simply declared independence)

- Staying out of private business (see Ant Group)

- Many companies and industries are state owned

- Industrial policy is still the standard in China (compare to the USA)

- Markets aren't informed (rampant censorship, bad data)

and so on.