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I can't comment on the veracity of it, but I dont think I've seen this perspective mentioned here before [at least not phrased the same way]. So in any case id like to pass it around
It's actually a very important point that many western observers of China don't get: what is called "private company" in the west and in China are not, in fact, the same thing. For one, private companies outside China don't have mandatory communist cells embedded in them.
That then leads people to see some statistics like share of "private" companies in chinese economy and conclude they're doing capitalism like the good old Europe.