Summary
Trump had to reverse his aggressive tariff rhetoric after CEOs from Walmart, Target, and Home Depot warned of empty shelves and higher prices due to supply chain disruptions.
Investors reacted negatively to his threats against Fed Chair Jerome Powell, prompting a market sell-off.
Trump backtracked, expressing optimism on a China trade deal and now denying plans to fire Powell.
Global markets remain volatile, and the IMF cited Trump’s trade war as a “major negative shock” to global growth.
China is very much a socialist economy
Really? The workers control the means of production? From here, it looks like state capitalism augmented by inconsistently regulated private enterprise (which sometimes leads to the entrepreneurs disappearing when they’ve neglected to grease the correct set of Party palms).
More than 60% of the Chinese economy is state owned and controlled, and as of I think a year ago they democratized Chinese company structures by mandating assemblies of employee representatives. The state having majority control and direction of the Chinese economy and market is the primary complaint of western trade partners, I don’t know why people are always surprised by this.
I get that people really do not like the authoritarian aspects of the Chinese government, but state-controlled economies are pretty much the exact intent behind ‘worker-controlled means of production’ in marxism.
Socialism isn’t just when the government does things. In between workers and the state needs to be a free and functioning democracy.
Yes, that famous part of Das Capital where marx coins the term “democracy of the proletariat”
https://en.wikipedia.org/wiki/Dictatorship_of_the_proletariat
Yup.
You act like that’s different than a democracy, please define why.