What Is Socialism With Chinese Characteristics? - This Is How China's Economic Model Works

What Is Socialism With Chinese Characteristics? - This Is How China's Economic Model Works

Dec. 11, 2025

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Geopolitical Economy Report

How does China's economic model work? Political economist Ben Norton explains the ideas behind Socialism with Chinese Characteristics.

Discussing China's socialist market economy, historical development, reform process, poverty reduction, industrial policy, and more.

Topics

0:00 Introduction
1:07 China has world's largest economy
3:01 China's economic development
3:54 Poverty reduction
6:56 Rising incomes
7:42 Life expectancy
8:57 Mortality rates
9:34 Reform and Opening Up
10:16 To get rich is glorious?
11:35 Deng Xiaoping's ideology
13:54 Primary stage of socialism
14:28 Chinese capitalists
15:54 Industrialization & urbanization
16:55 Birdcage economy (Chen Yun)
18:17 State ownership
19:40 State-owned enterprises (SOEs)
20:49 Grasp the large, let go of the small
22:22 Public property
23:16 SOE assets
24:14 Provincial & local governments
25:51 Golden shares in tech companies
26:54 Huawei, biggest worker-owned company
27:17 Rural cooperatives
29:09 Democracy in China?
31:40 Foreign investment in China
33:49 Global value chain
34:34 Foreign direct investment (FDI)
35:48 Industrial policy evolution
38:22 New quality productive forces
39:23 China's green energy revolution
40:24 World's manufacturing superpower
41:04 US De-industrialization & Financialization
43:22 US bubble economy
44:37 China popped real estate bubble
46:50 Inequality & uneven development
48:31 Eras of the PRC
49:01 Common prosperity in New Era
49:34 Gini coefficient
50:26 Labor income vs capital income
51:48 Poverty alleviation
52:17 Wages of Chinese workers
52:44 Labor unions in China
55:19 USA funds anti-China labor groups
57:02 Marco Rubio takes over NED
57:32 Delivery workers
58:30 996 system is banned
59:23 Working hours in China
1:00:25 Imperialism & division of labor
1:03:51 AI & new cold war
1:04:45 Silicon Valley model: monopoly
1:05:43 Market competition in China
1:07:44 China opposes private monopolies
1:08:10 State planning
1:09:05 Cold War Two

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Original: https://youtu.be/6E89qUXTX-k

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