It's not just most-improved, it's actually the best economic system in large countries (thus more easily corrupt) that were not benefactors of classical imperialism if all you care about is development. This is simply an incontrovertible fact - India, Nigeria, Congo, etc... were in similar initial conditions and fared much worse economically.
Far from being worse than liberal capitalist economies - which are the majority of the world - it's 73 in GDP PPP per capita out of 193 - solidly above average.
It's also not had a period of high growth, it is still having a period of high growth, with 2.4% growth in 2020 which is by far the highest out of all major economies, and a predicted 7.3% next year. This is better than a lot of low income countries, coming from a medium-high income country.
It's also set on escaping the middle income trap in 2-5 years as GDP per capita goes above 12500$, which is something that most liberal capitalist economies cannot achieve.
So no, it's really not just in relative sense. In performance with its current position, it really is doing better than alternate models of liberal capitalism, and by quite a margin.
I don't support the political reality that makes it work at all, but it is clear that liberal capitalism is not the undisputed king anymore.
>It's not just most-improved, it's actually the best economic system in large countries (thus more easily corrupt) that were not benefactors of classical imperialism if all you care about is development. This is simply an incontrovertible fact - India, Nigeria, Congo, etc... were in similar initial conditions and fared much worse economically.
Compared to countries with a similar culture/demographics: Hong Kong, Korea, Singaporem Japan and Taiwan, mainland China's growth has been way slower.
>It's also set on escaping the middle income trap in 2-5 years as GDP per capita goes above 12500$, which is something that most liberal capitalist economies cannot achieve.
This is still only around a fourth of the GDP per capita in the other East Asian countries.
Mainland China's growth has been much slower because the madness of Mao's misrule set the country back by several decades. If you compare the country's growth since Deng Xiaoping took over and started reforming in the early 1980s, it compares much more favorably.
Japan was a benefactor of Imperialism - its like comparing Algeria and France. Singapore, Hong Kong, and Taiwan are city states and completely incomparable, and South Korea also heavily used state capitalism and incredibly non-liberal policies until it got richer than where China is at right now. It's also a much smaller country.
As for the rest, you're completely missing the point. Liberal capitalism's single greatest issue for the developing world is the middle income trap.
Credit is due for taking advantage of the west's naivete and greed.
Most-favored-nation (MFN) trade status renewal came with conditions. Few if any were met by CCP China and yet American administrations continually renewed MFN for CCP China. Ultimately President Bush (#43) made it permanent.
They opened the door that enabled CCP China to drink the West's milkshake.
This does not bear out in the data - of 60+% employment in the public sector as well as higher performance than (much more) liberal capitalist countries.
Far from being worse than liberal capitalist economies - which are the majority of the world - it's 73 in GDP PPP per capita out of 193 - solidly above average.
It's also not had a period of high growth, it is still having a period of high growth, with 2.4% growth in 2020 which is by far the highest out of all major economies, and a predicted 7.3% next year. This is better than a lot of low income countries, coming from a medium-high income country.
It's also set on escaping the middle income trap in 2-5 years as GDP per capita goes above 12500$, which is something that most liberal capitalist economies cannot achieve.
So no, it's really not just in relative sense. In performance with its current position, it really is doing better than alternate models of liberal capitalism, and by quite a margin.
I don't support the political reality that makes it work at all, but it is clear that liberal capitalism is not the undisputed king anymore.