It's for lack of a better term, Corporatist Statism. Which is an evolved, postindustrial form of 1930's fascism-nazism adapted to the institutions and societies of the parliamentary regimes that won WW2.

Fascism and nazism in turn were evolutionary steps of the older marxist socialist communism, adapted to the specific context of industrial(izing), wannabe imperial Western European countries.

The difference between let's call it classical Soviet communism and classical Western fascism is that the first believe that in order to achieve the political and ideological goals set by the Party, they must centrally plan AND MANAGE through ownership the means of production.

The latter, on the other hand, think that the political goals of the Party are better achieved by letting economic actors formally own and manage the means of production in a more decentralized manner, by "guiding" or "directing" them through legislation, and intervention where needed.

If both cases the final game is the same: total control of the economy by the State, as the best way to force ideological change upon society.

If you break it down like this, you can easily see that our current system in the West (and largely now in China) is a direct descendant of fascism, rather than soviet communism, even if both soviet communism and fascism are descendants of Marxist socialism in the end.