Question

Imagine that you are an industrial worker in a city in China. What would you put in an e-mail to a relative in the United States explaining how China's transition to capitalism is affecting your work and your daily life?

Answer 1

In that email, I will tell my relative in the United states that the transition to capitalism now implies that we work for longer hours with less pay.

What is capitalism?

The term capitalism means a system in which the means of production is controlled by individuals rather than by the state. Hence, monopoly is possible in a capitalist economy.

In that email, I will tell my relative in the United states that the transition to capitalism now implies that we work for longer hours with less pay and we do not have the social and job security that was once guaranteed in a socialist/communist economy.

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