[Clemenza]

Oh, Puh-Leeze! Most industry in China is in private hands. They have a market economy, albeit not entirely free.

The Chinese are smarter than the Russians (in more ways than one), who had a completely state run economy.

[WilliamofCarmichael]

RE: "Most industry in China is in private hands"

Depends upon the meaning of "private hands."

"[China's] factory owners are mostly privileged children of party officials – 90 per cent of China's billionaires are the children of senior cadres – who have a reputation for spending more time in karaoke lounges than boardrooms. They are ill-equipped to act as innovators and entrepreneurs."

Is there any independently supported reason not to believe this? E.g, another news article from a more-or-less trusted source.

Yes, the early Soviets made mistakes, the ideologues terminated NEP before it was time. I think that the nepmen had quickly become almost half the Soviet economy. And of course FDI flowed in.

Deng grilled Armand Hammer for firsthand information.

[TenthAmendmentChampion]

The Chinese have a classic fascist economy and society.