China has sandbox capitalism. In the sandbox it looks and feels like capitalism, but the sandbox itself exists in a communist framework, and the state still controls all the inputs, outputs, and can intervene at any point as they please.

In organic capitalism you need to compel arrays of discrete private entities to invest in your idea. In sandbox capitalism, the money can just appear in any amount at the behest of a single controlling individual.

You can see it plainly on the Solar PV market. The likes of Trina, JA, Jinko, etc. all compete aggressively, leading to everyone running at a loss in order to corner the market, and then after a few years the government steps in and orders all of them to raise prices. Happened again at the beginning of this year, raising cost of PV Modules 30-40% for oversees consumers.

Contrast that to US being happy with everyone eating each other alive until all but one company is left standing and can now dictate the prices and enshittify the product to pay back their VC loans.

I don't think its that hard to shoehorn current US into those sentences too, maybe switch word 'communism' with 'kleptocracy'.

Less intervening and micro management but oh boy say something not nice about government and potus and suddenly you are a new enemy of the state and 3-letter agencies work day and night to bring you down for good. Or in reverse - put a public bribe to potus and his clan and enjoy some favors for few weeks.

2 years ago I would agree more strongly with you, but we are in new era from now on.

nice