By Justin Zhang and Lynn Xu Chinese Communist Party (CCP) leader Xi Jinping warned in early July that if communist party members lose their belief in Marxism and communism the CCP will collapse and disintegrate, suffering the same fate as the Soviet Union. On July 4, Mr. Xi told the state members at the Shanghai Cooperation […]
Tag: Capitalism
Capitalism – Capitalism is an economic system based on the private ownership of the means of production and their operation for profit. Characteristics central to capitalism include private property, capital accumulation, wage labor, voluntary exchange, a price system and competitive markets. In a capitalist market economy, decision-making and investments are determined by every owner of wealth, property or production ability in financial and capital markets, whereas prices and the distribution of goods and services are mainly determined by competition in goods and services markets.