Which phrase best describes state capitalism?

State capitalism refers to an economic system in which the government exerts significant control over the economy but does so in a manner that allows for private enterprises to operate within that framework. In this system, privately run companies are often closely aligned with government objectives, leading to a structure where the government can influence and direct economic activities while still allowing for private ownership and profit motives.

This aligns with the characteristics of state capitalism, as the government may own key industries or have substantial stakes in major corporations, guiding their operations and decisions to align with national interests. Therefore, the emphasis is on the partnership between the government and private companies, rather than outright government control or collective ownership for public welfare, which is evident in other economic models such as socialism or communalism.