Nationalization etc have been abandoned by the parties of the left in western democracies. Putin acts for Putin. China is state CAPITALISM.
The past 100 years have seen a trend towards labour reform. The past 30 years have seen capitalist economics accepted by everyone. Free market economics was imposed on Russia in the 90s, as the obvious choice of system. Because of prevailing inequalities, that led to the oligarchs. Putns threats of nationalization are part of a power struggle with them.
Edit: do you think western countries could have the kind of capitalism they one have with an unreformsd labour market of downtrodden serfs, bonded for life to a single overlord? Much labor reform came about because capitalism was evolving to a form where employers needed an educated and flexible workforce. Some reforms were pushed by government, but much just had to happen, because you can't plug Jethro the serf into the job done by Josh the freelance web designer.
Here is how this conversation played out:
you: "The economics of the left have been abandoned."
me: "What do you mean by 'economics of the left?"
you: "Nationalization, the government controlling the means of production, etc."
me: "What about Russia, China, etc?"
you: "Russia is actually not a true Scotsman, and I am going to apply the label 'capitalism' to China in such a way that it trumps the fact that a huge amount of economic capacity activity there is directly controlled by the state, many many firms are nation...
Suppose I told you that I knew for a fact that the following statements were true:
You’d think I was crazy, right?
Now suppose it were the year 1901, and you had to choose between believing those statements I have just offered, and believing statements like the following:
Based on a comment of Robin Hanson’s: “I wonder if one could describe in enough detail a fictional story of an alternative reality, a reality that our ancestors could not distinguish from the truth, in order to make it very clear how surprising the truth turned out to be.”1
1Source: http://lesswrong.com/lw/j0/making_history_available/ewg.