[1][2] The term has also been used to describe the economy of Taiwan under the authoritarian military government of the Kuomintang (KMT).
The term is not used by the Kuomintang itself; it was coined by Taiwanese economists, such as Chen Shih-meng and Cyrus Chu, in their research report Deconstructing the KMT-State Capitalism (解構黨國資本主義; 解称党国资本主义).
[3][4] According to academic Ho-fung Jung of Johns Hopkins University, "China's state capitalism departs from state capitalism in other countries in that the power of the CCP in the economy goes far beyond SOEs.
'"[5] Margaret Pearson, Meg Rithmire, and Kellee S. Tsai have proposed to use the term "party-state capitalism" as a variant of state capitalism to conceptualize the political-economic dynamics of China since the late 2000s.
[1][6][7] They demonstrate this concept by examining three prominent manifestations of China's unique model: party-state encroachment on markets; a blending of functions and interests of state and private ownership; and politicized interactions with foreign capital.