Socialism is not “lower Gini coefficient.” Socialism is a Mode of Production chategorized by public ownership being the principle aspect of the economy, unike Capitalism where the reverse is true. Large firms and key industries are firmly publicly owned in China, while the private sector covers small industry and self-proprietors. Key industries, like steel and banking, are near entirely state owned. In Belgium, this is not the case, in fact it’s quite the opposite.
This is why China is developing and improving key metrics at a much faster rate than dying western Capitalist countries. Adopting a Marxist understanding of economics allows better analysis of how to improve economies and use that for the benefit of all.
Socialism is not “lower Gini coefficient.” Socialism is a Mode of Production chategorized by public ownership being the principle aspect of the economy, unike Capitalism where the reverse is true. Large firms and key industries are firmly publicly owned in China, while the private sector covers small industry and self-proprietors. Key industries, like steel and banking, are near entirely state owned. In Belgium, this is not the case, in fact it’s quite the opposite.
This is why China is developing and improving key metrics at a much faster rate than dying western Capitalist countries. Adopting a Marxist understanding of economics allows better analysis of how to improve economies and use that for the benefit of all.