I saw a comment somewhere that China uses free markets for the benefit of the state, whereas the USA uses free markets for the benefit of private capital.
China also has 800 million people making less than $100/month. where do you think the millionaires and billionaires in China skimmed their wealth from?
While China has made great strides people dont seem to understand that the vast majority of Chinese have the kind of wealth you'd see in a developing country like Thailand or Indonesia.