Second, on the ocean, all these other boats were telling t â¦ he Titanic about ice locations when they ignored it. They didn't care. They ended up striking the iceberg on the starboard side of the boat on April 14, 1912.
China is no doubt one of the most capitalist countries in the world, but with a lot of corruptions. Chinaâs capitalism economy is mainly running or controlled by one boss only, the communist party. Remember: the China Communist party isnât communism, even though they say theyâre socialism, you all got this wrong.
An economic system in which the government owns and operates basic industries but individuals own most businesses Most socialist countries are democratic and recognize individual freedoms The socialist system may allow a higher standard of living and is more stable; but taxes and unemployment are generally higher in socialist countries capitalism/free enterprise An economic system in which individuals own and operate the majority of businesses that provide goods and services Pure capitalism or free-market system happens when all economic decisions are made without government intervention; also called laissez-faire capitalism