"But is the modern Chinese state, the Communist regime anchored in Beijing, similarly permanent? In fact, it is bedeviled today by a raft of problems: corrupt institutions, debt-ridden regional governments, a degraded environment, insolvent state banks, unprofitable enterprises, bankrupt pension funds, failed schools, and overburdened hospitals, just to name the most prominent. "
LOL. The author could just as easily be talking about the U.S.A.
I don't think you understand the pervasiveness of the corruption in China. In China, you need to bribe every government department that touches on your business, or they will close you down. Government officials divert civil service pension funds to back real estate developers who kick back some cash to them for the privilege of using those funds. Eminent domain there means that government officials take the money given by private developers to buy land, leaving the current occupants with nothing.