I think it helps to draw some distinctions here. Nordic countries have strong social welfare systems, but private property and free enterprise are still a thing. This is not at all the same as communism where everything is ultimately state owned and operated.

China is an interesting example too because it's basically capitalist with strong government oversight. So you can go hog wild on exploiting labor and amassing wealth as long as you don't oppose the overall goals of the government. We'll see how long they can keep it running - the problem with most authoritarian systems is that they're only as good as their current leadership, and when that changes things tend to fall apart.

I think basically capitalist oversimplifies a bit, both because private business holds no monopoly on exploitation of labor in any society, and because many of their large businesses are wholly owned by the state with the CEO appointed by the party. Here is an interesting interview on the subject with a relevant timestamp. https://youtu.be/e297mEZ479E?si=ASV_u9ZoN36wI4M5

The nuance that capitalist businesses do not hold an exclusive interest now or historical pioneering of labor exploitation is valuable to keep in mind because no matter how far the project of labor power spreads, all we workers must keep in mind that we have a primary and vested in empowering the most diminished of our society.

>So you can go hog wild on exploiting labor and amassing wealth as long as you don't oppose the overall goals of the government

Or get TOO big. You can get a few billion here and there, but don't think that you're bigger than the government. And don't act like it, either.