In our view – the view of the leadership of the CWI – Vincent’s characterisation is too categorical. The direction of travel of the Chinese state is clear enough, from the former Maoist-Stalinist planned economy, based on nationalised property, towards a capitalist economy. But, however powerful the locomotive, the train has not yet arrived at its destination. It is premature to declare: “Capitalism, of a peculiar Chinese type, has been restored”.