The late-Soviet command economy could not overcome global capitalism, there’s no reason why the Chinese should adopt it long term. The current economic structure is rooted in the early Soviet NEP and theoretical proposals by Bukharin and will be followed until economic planning, production, distribution and exchange can be properly denominated in labor hours. Which is not an easy task. The hybrid system used by the Soviets of attempting to approximate labor-time with currency produced its own problems. Black markets and contradictions were the cancer that killed the Soviet Union and it’s not worth repeating their mistakes. 70 years of drastically reduced exploitation, happy lives, and the liquidation of the bourgeoisie class is not preferable to a permanently sustainable economic model that can withstand seige and encirclement by global capitalism.

Do you have any leftist reading recommendations on Soviet planning (and its failures)?