What countries have a socialist economy?
Marxist–Leninist states
| Country | Since | Duration |
|---|---|---|
| People’s Republic of China | 1 October 1949 | 72 years, 276 days |
| Republic of Cuba | 16 April 1961 | 61 years, 79 days |
| Lao People’s Democratic Republic | 2 December 1975 | 46 years, 214 days |
| Socialist Republic of Vietnam | 2 September 1945 | 76 years, 305 days |
What countries benefit from socialism?
Socialist Countries that Have Succeeded
- Moldova. Gini Coefficient: 25.7.
- Armenia. Gini Coefficient: 25.7.
- Croatia. Gini Coefficient: 30.4.
- Slovenia. Gini Coefficient: 24.2.
- Portugal. Gini Coefficient: 33.8.
- Spain. Gini Coefficient: 34.7.
- Belgium. Gini Coefficient: 27.4.
- Ireland. Gini Coefficient: 32.8.
Is North Korea a socialist?
North Korea, officially the Democratic People’s Republic of Korea, continues to be a Juche socialist state under the rule of the Workers’ Party of Korea. In South Korea, the National Security Law has been used to criminalize advocacy of communism and groups suspected of alignment with North Korea.
Which countries does socialism the best?
In Scandinavian countries,before major Muslim immigration. (Nothing wrong with the Muslim refugees,except they weren’t Scandinavian. See below for why.)
What countries have successful socialism?
– Venezuela. – Socialist China. – N. Korea. – etc.
What countries have a capitalist economic system?
Hong Kong Traditionally considered the world’s freest economy,Hong Kong comes closely behind Singapore and remains one of the few countries that still practice strong capitalism.
Does socialism only work in small countries?
So no, it’s not the case that socialism work in small, rich Scandinavian countries but not the USA. It works fine in the US, too. It’s not ideal in every industry, but where there’s a common good to be served, it’s often the best solution.