Party-state capitalism

Okay, imagine a big group of friends who like to play games together. They all get together and decide on the rules of the game and how they will play. This group of friends is like a party, because they all have similar ideas and goals.

Now, imagine that this party of friends also controls the way things are bought and sold in their neighborhood. They make the rules for how businesses can operate and make money. This is called capitalism, where businesses are run for profit.

So, when the party of friends controls both the rules of the game and the way businesses work in their neighborhood, this is called party-state capitalism. The party and the state (government) work together to make decisions about how things are run.

In this system, the party has a lot of power and influence over how businesses operate and how the economy works. This can sometimes lead to unfair advantages for certain businesses or people who are part of the party, and it can make it hard for others to compete.