Can China's socialism promote the private sector?

China's private sector has ridden a rocky road. Under classical Marxism, or Socialism, the state owned all the means of production — and China's economy was weak and stagnant. When Deng Xiaoping introduced the "socialist market economy," the private sector flourished, facilitating China's economic miracle. But even recently, foreign reports have the state sector advancing and the private sector retreating. What is the reality? What is the private sector's role in China's new era? Subscribe to us on YouTube: https://goo.gl/lP12gA Download our APP on Apple Store (iOS): https://itunes.apple.com/us/app/cctvn... Download our APP on Google Play (Android): https://play.google.com/store/apps/de... Follow us on: Website: https://www.cgtn.com/ Facebook:   / chinaglobaltvnetwork   Instagram: https://www.instagram.com/cgtn/?hl=zh-cn Twitter:   / cgtnofficial   Pinterest:   / cgtnofficial   Tumblr:   / cctvnews   Weibo: http://weibo.com/cctvnewsbeijing Douyin: http://v.douyin.com/aBbmNQ/