this post was submitted on 30 Aug 2024
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And also a small group of people monopolize power and wealth to oppress those who didn't
...You're describing capitalism.
Communism experdites the process of wealth centralization, because that's what happens when you give all the resources to a single party, under communism the process takes less than 10 years, under capitalism it takes over 10 years, because you need to convince people to part with their money, under communism you have no choice, you own nothing and what you do own is the property of the party.
Hmm?
Poverty rates are steadily decreasing in China...
...under every income group.
While homeownership rates have been steadily rising, reaching 90% in 2018
Those are some bold claims to make with nothing to back it up, when in fact reality says otherwise.
Technology and a booming capitalist economy do that, or well, a booming economy and leading tech at least ; )
A market economy under a socialist state, similar to what the USSR had under the NEP for its first 20 years.