Point is, not even the USA is emulating its former model. The USA is now emulating everyone else in the world.
And since you are calling Red China “formerly communist”, I’ll just ignore your platitudes now.
I thought we were discussing economy, not politics. Politically, China is a communist country. Economically it is capitalist.
In a true communist country, you can’t become a millionaire. In China there are now many Billionaires. China is nothing like a true communist country in economics such as Mao’s China was or Cuba is today.