China’s economic growth is often used as an example in debates about socialism vs capitalism, but th

Added: 2026-06-03

[00:00:00]I mean, how can anybody say socialism doesn't work anymore? Just look at the growth of China.

[00:00:06]>> You kids don't know anything about the world. China's not socialist anymore.

[00:00:11]All their growth is because of capitalism, kid. All right, cool. Let's implement Chinese-style capitalism in America.

[00:00:18]>> What?

[00:00:19]>> I mean, you do support capitalism, don't you? So, you should be okay with that.

[00:00:23]>> Yeah, so the capitalism that this this guy's talking about in China. By the way, I'm not Chinese, I'm Korean, but the capitalism that China is talking about is only accessible to the few and the very top people. Pretty much everyone else at the bottom 99% of that pyramid, uh yeah, capitalism is not accessible to them whatsoever. And what's very interesting back in '70s and '80s is that China began to allow more aggressive banking and lending practices, which meant that businesses that were allowed to run in China thrived with credit access and lending access. So, in the case of China, literally a drop of capitalism just changed the entire country. And I'm an example where I was in the bottom 99% as an immigrant that came to this country 26 years ago, and it was the free market and capitalism that was available in the United States that allowed me to take advantage of the opportunities here.