Chinese President Xi Jinping warned in 2013 of 'the self-regulating ability of capitalist society' and the West's long-term advantages in the 'economic, scientific, and military spheres.'
Chinese President Xi Jinping had warned fellow communists that capitalism had its benefits and socialism could only beat it out if its application remained dynamic and ready for reform during his debut speech.
"We must profoundly understand the self-regulating ability of capitalist society, fully appraise the objective reality of the long-term advantage of Western developed countries in the economic, scientific, and military spheres and conscientiously prepare for all aspects of long-term cooperation and struggle between the two social systems," Xi said.
Regardless of any updates made throughout his"new era" of reform, Xi argued in his 2013 speech that"socialism with Chinese characteristics is socialism" and not state capitalism or any mixture of the two systems.
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