China is still a command economy mainly controlled by the Government. Maos efforts have merely been turned in a different direction to make the country (not necessarily the people) rich. No business gets done without input or approval by a raft of bureaucrats. Politics controls everything. Most businessmen, in fact, ARE the bureaucrats. Therefore, corruption is rampant. This is why after only 20-25 years of “reform” China already has one of the most unequal wealth distribution in the world.
We should admire the individual Chinese’s thrift, focus on family and value of education, but they have developed these over the centuries as a survival mechanism against rapacious Government. There is very little in Chinese economic planning that the USA should copy.
We have stupid economic planners....they have intelligent economic planners. We need to clone their planners.