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Well, it exists insofar as it does in Hong Kong...
What
In Hong Kong you get to vote, but it's for a candidate the CCP chooses for you before you get to vote, like the DNC did with Joe Biden for 8 years
I remember Chris Hedges saying in 2024 that we must campaign against Biden even if it means Trump winning.
I don't think avoidance of oligarchy is a major consideration for the guy.
It exists for the class that holds power in society which is the capital owning class.