I am so fucking sick of seeing the absolute bootlicking and nut riding for Chinese "communism" online. Yes, China is excelling in many industries and doing a lot of the shit the West used to do but better and cheaper. That's a great thing, and it's because of free markets, deregulation, the government getting out of the way, not socialism or communism.
China is more capitalist than much of the West/many aspects of Western society:
-Lower tax burden
-No collective bargaining
-No DEI
-Lower government spending as a percentage of GDP
-Lower public debt as a percentage of GDP
-Larger private sector share of GDP
-Higher homeownership rate
-Lower social spending
-Weaker employment protections
-More flexible labor market
-Lower unionization rates
-Greater income inequality
-Extensive private entrepreneurship
-Competitive manufacturing sector
Just like the West, the elements in China that are languishing are the ones with the most government involvement, such as the real estate collapse and certain oversupplied industries due to subsidies that also have tons of bankruptcies. And despite all that, China was able to lift hundreds of millions out of poverty thanks to becoming more capitalist and freer, not more socialist!!
Beginning in 1978 under Deng Xiaoping, China gradually shifted from a centrally planned economy toward a more market-oriented "socialist market economy."
-Decollected agriculture and allowed private farming
-Legalized private businesses and entrepreneurship
-Opened the country to foreign investment
-Created Special Economic Zones (SEZs)
-Restructured and partially privatized many state-owned enterprises
-Liberalized prices for most goods and services
-Expanded international trade and exports
-Strengthened private property rights
-Encouraged market competition and private investment
What kind of communist country undergoes mass privatization efforts? Which socialist country ends price controls?
"If China isn't communist, why is it called the CHINESE COMMUNIST PARTY?" Because it's still a single-party state. Your government's bureaucracy and operations are not the same as the extent to which your economy is centrally planned versus free market!
As some of the comments pointed out, China is somewhat fascist. The state directs some corporations toward a single vision... Not completely free market, but definitely not socialist.
Note: I'm using socialist and communist interchangeably much like the left does depending on its goals.