3Kingdoms
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It's a billion dollar industry, not wasteful if brings in X millions dollar revenue. Also it drive jobs, how many are profiting from this golf course? I agree it's a rich man's game but it brings foreign capital into the country.the riches' game, waste of public land.
Capitalism is just private ownership of production to gain profit, so it existed since whenever.Well, according to communist revolutionaries like Mao, Ho Chin minh etc etc, yes if they saw their countries today then yes they will agree you people are currently practicing evil decadent western capitalism or whatever that means. Something like N.Korea will suit their taste better.
Actually, communist both Russia & China (not sure about Vietnam) had capitalist within the communist party since its inception notably Chen Yun & Deng Xiaoping 'Capitalist Roaders' they where called.
When you say Western Capitalism you talk 'Free market Capitalism' a western characteristic. China is not 'Free market', if it followed western models if would have wonderful institutions such as the sharia courts of Britain