The other thing to note when doing a compare and contrast is that China is a high savings country with no shortage of capital. Maybe in the very beginning of the reform and opening era they did but it hasn't been the case for over two decades. US on the other hand is the largest importer of capital in the world. So it can be expected that China with its thirsts for know-how and market access but not capital will behave very differently from the US, all else being equal. This is generally true for other East Asian countries as well.