What is Socialism with Chinese Characteristics? This is how China's economic model works
Published: December 11, 2025
Duration: 1:10:04
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.
VIDEO with charts here: https://www.youtube.com/watch?v=6E89qUXTX-k
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...