Communism is a political and economic system that seeks to create a classless society in which the major means of production, such as mines and factories, are owned and controlled by the public.
Today, the existing communist states in the world are in China, Cuba, Laos and Vietnam. These communist states often do not claim to have achieved socialism or communism in their countries but to be building and working toward the establishment of socialism in their countries.
The main difference is that under communism, most property and economic resources are owned and controlled by the state (rather than individual citizens); under socialism, all citizens share equally in economic resources as allocated by a democratically-elected government.
Communist ideology supports widespread universal social welfare. Improvements in public health and education, provision of child care, provision of state-directed social services, and provision of social benefits will, theoretically, help to raise labor productivity and advance a society in its development.
In a communist system, people are entitled to jobs. Because the government owns all means of production, the government can provide jobs for at least a majority of the people. Everyone in a communist country is given enough work opportunities to live and survive.
The most significant disadvantage of communism is the fact that it eliminates the free market from domestic society. That means there are no laws of supply and demand available to set the prices for consumers to pay.
Advantages. Communism has a centrally planned economy; it can quickly mobilize economic resources on a large scale, execute massive projects, and create industrial power.
Communism (from Latin communis, 'common, universal') is a philosophical, social, political, and economic ideology and movement whose goal is the establishment of a communist society, namely a socioeconomic order structured upon the ideas of common or social ownership of all property and the absence of social classes, ...
|People's Republic of China 中华人民共和国 (Chinese) Zhōnghuá Rénmín Gònghéguó (Pinyin)|
|Government||Unitary Marxist–Leninist one-party socialist republic|
|• CCP General Secretary President CMC Chairman||Xi Jinping|
|• Premier||Li Keqiang|
|• Congress Chairman||Li Zhanshu|
China has a land area of 9.3 million square kilometers (3.6 million square miles), which is 2.2% larger than the US land area of 9.1 million square kilometers (3.5 million square miles).
Top 10 Countries with the Most Capitalist Economies - 2021 Heritage Index of Economic Freedom:
China owns hundreds of thousands of acres of open land and housing around the world. China and Chinese investors own around 200,000 acres in the United States—but much more in Asia and Africa.
In this short book Peter Nolan - one of the leading international experts on China and the global economy - probes behind the media rhetoric and shows that the idea that China is buying the world is a myth.
Sep 27, 2021
According to a recent article in US News, May 28, 2019, nearly 30 million acres of U.S. farmland is now owned by foreign countries. These are quietly emerging facts disturbing to many Americans, particularly small- and medium-sized farmers.
China has steadily accumulated U.S. Treasury securities over the last few decades. As of October 2021, the Asian nation owns $1.065 trillion, or about 3.68%, of the $28.9 trillion U.S. national debt, which is more than any other foreign country except Japan.
The most recent data collected under the Agricultural Foreign Investment Disclosure Act (AFIDA) shows Chinese investors held a little more than half of 1% of the overall 35.8 million acres of U.S. farmland and forest land under foreign ownership in 2019.
The quick answer is that as of January 2018, the Chinese owned $1.17 trillion of U.S. debt or about 19% of the total $6.26 trillion in Treasury bills, notes, and bonds held by foreign countries.
ByteDance, the Chinese internet company that owns TikTok, eliminated a global team in its human resources department in December. During a town hall meeting that lasted around five minutes, members of the company's Talent Development team learned that their roles would no longer exist, said one former HR employee.
What would happen to China's economy if America completely stopped buying it's exported products? ... Around 4% of China's GDP and 3% of America's GDP would temporarily disappear and then reappear as increased Chinese exports to Europe/Russia/Africa/India and increased US imports from those regions.
Canada is the biggest foreign owner of U.S. agricultural and timber land, and owns 4.7 million acres in the United States. The Netherlands is the second largest foreign owner with 4.6 million acres.