Do they use money in China?

Question

In China everything belongs to the state. Everything are given by the state and may be taken away anytime the state see fit.

In China there is nothing as private property. The people can't buy and sell things as they want or even choses what they want to have.

So do they use money there? If so how does it work?

Answer 1

Before you ask a question like that again, you seriously need to do some research.

Almost all of what you said is either outdated or wrong.

Anyone can open a business in China. Even I can, as an ex pat from the USA.

China has money. What do you think they do, barter overseas with pig carcasses to supply stuff to Target, Macy's, Ford Motor Company?

People buy their homes here, what they can not do is own the property. In the USA its the same damned thing, but the state rents it to the individual through taxes and then says the individual owns the property. At one time it was true, but now people pay a huge fee to occupy the land, then rent it year to year through taxes. If the taxes are not paid, the state takes it back. That is NOT LAND OWNERSHIP, that is rental under a different name. Where I live in China, property taxes are nill to zip I looked at a nice condo and the taxes were zero. The people are protected against illegal seizures by government.

Yes people can choose what they want to buy, choose where they want to live, job, business, hell they can even leave China and move to the USA.

China is not communist since that is the opposite of capitalism, nor are they a dictatorship since their leadership is voted in by their legislature, much like Britain, nor are they totalitarian, since that means all aspects of life are controlled by the state. Which in the past was true, but is nowhere near being true now. China is a country that is slowly morphing into a federal democratic republic, much like the USA at their own pace. Non members of the communist party are now encouraged to be involved with government and hold high office. Something that was unheard of a decade ago.

Like I said, what you think is either outdated or wrong.

Signed, an ex pat from the USA living in the heart of China

Peace

Jim

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Answer 2

The yuan is the currency used in China. As for your statements concerning private property, although China is a communist country, many individuals are becoming wealthy as a result of China’s trade policies.

China is second only to the United States in the number of billionaires in the country.

The Chinese government recently passed a law intended to safeguard the private property rights of the growing middle class and upper class.

Answer 3

yes they have money in China, It's called the Yuan and there system is the same as it is here. Even in the darkest days of the Cultural Revolution they still had money. Though in modern China they are just as Capitalist as we are just with an authoritarian government. The Communist system that you describe only ever existed on paper and in the minds of the leaders.

Answer 4

Yes, they do use money in China. People are paid in omney for their work and they pay money for their food, housing and consumer goods. There is in fact quite a lot of private property in China and, hold on to your hat, even private enterprise. There is no really totally communist nation anywhere in the world.

Answer 5

Hardly... China is one of the most capitalistic nations on the planet. The "Communist Ideology" has essentially become a form of authoritarian socialism.

As one of the Party Leaders of the Post-Mao era said "To get rich is glorious"

Answer 6

They use money. Your confusion comes from the fact that everything in the first two paragraphs you wrote is incorrect.

Answer 7

the Chinese currency is called the yuan -- china is a dictatorship with a centrally run capitalism - NOT a communism

Answer 8

You serious? You have obviously never been to China.

Answer 9

They use chickens and goats as Currency.

Answer 10

They use very little, most of it goes to the Government.