“Communist” is a bit of a stretch with how much individual freedom of ownership exists. Individual, privately-owned firms are prevalent, and the government’s control of their economy seems to be roughly on the scale of the US with occasional bailouts and tax cuts that benefit institutions and industries.
My understanding is that farmers and industrial manufacturers basically just pay an amount to the government to allow them to use land and resources for private gain... which sounds more like a lease than direct economic control.
China is increasingly capitalist with every passing year, with privately-owned firms making international investments. In fact, the slowed domestic growth and increasing quality of life they have seen in recent years has led to sizeable entrepreneurial investments in Africa, with the potential of that region becoming the future hotbed of low-cost labor and manufacturing.
Thank you for coming to my TED talk.