Second, economically, we call it a socialist market economy.In fact, it is a kind of mixed economy. But many countries also have a mixed economy. But the Chinese one is unique.It means the state owns so many resources, from minerals to land, everything. Yet, the right to use the land is flexible. It’s very often shaped by market forces.A good example of why China can be so successful in internet applications, even for those apps used in the United States, such as TikTok, Temu, or Shein.They are Chinese inventions, because it came from internal competition within China. And after this, they become very competitive internationally.
As we have said, one must not treat all the contradictions in a process as being equal but must distinguish between the principal and the secondary contradictions, and pay special attention to grasping the principal one. But, in any given contradiction, whether principal or secondary, should the two contradictory aspects be treated as equal? Again, no. In any contradiction the development of the contradictory aspects is uneven. Sometimes they seem to be in equilibrium, which is however only temporary and relative, while unevenness is basic. Of the two contradictory aspects, one must be principal and the other secondary. The principal aspect is the one playing the leading role in the contradiction. The nature of a thing is determined mainly by the principal aspect of a contradiction, the aspect which has gained the dominant position.
In recent years commentators both at home and abroad have questioned whether the road pursued by China is truly socialist. Some have called our road “Social Capitalism,” others “State Capitalism,” and yet others “Technocratic Capitalism.” These are all completely wrong. We respond that socialism with Chinese characteristics is socialism, by which we mean that despite reform we adhere to the socialist road — our road, our theory, our system, and the goals we set out at the 18th National Party Congress.
All economies are mixed, really, even the DPRK with its Special Economic Zones.
Public ownership is the principal aspect of the Chinese economy, not private ownership.
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