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China is communist only in name. It's economy is as capitalist as it gets.
Yes. The gap between rich and poor countries using PPP is very significantly lowered because PPP is based on cost of living. If you live in a poor nation your cost of living will be low. Therefore, you're going to have a higher PPP. It's literally paradoxical to use when comparing the difference in wealth between two nations.
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anon (01/11/2016) [-]
For those too lazy to check it up: fortune.com/2015/12/14/china-fake-economic-data/
<- Also not quite source but close
<- Also not quite source but close