I'll partially agree, but the scale needs to be closer to free markets. If you look really closely at the changes, they were dramatic, those countries shifted from a post Apocalyptic environment to heavy weight contenders within a few years.
However, what you see in China is some scary shit, some refer it as "naked capitalism." You can't let factories spew toxic chemicals into people's drinking water and ignore it, you can't make products that are dangerous to the consumer and know it. China has "taken the ball and run with it" as far ignoring consumer protections. It's like they are like we were at the start of the industrial revolution, where caveat emptor ruled the day. Also, you have to let people earn their way up the ladder. I know it's weird, but on my Dad's side, he has six siblings, and five of them have graduate degrees and PHd's. All of us are Black. That's a bit odd, but it was stressed on his side that you are going to hustle in life. They have had kids and Grand kids, and we've started earning our college diplomas, graduate degrees and PHd's. My sister just got hers in Psychology, and now she's billing clients at $100 an hour. We've all moved up, but that's because there was this internal drive as a family, that getting educated was the end all be all. And the neighborhood they grew up is full of crack houses, we come from dirt. To this day even though I've made 200-300k each year for the last five years, I still get lectures about how I need a PHd. Thanksgiving dinners get a little tense, as they ride me about how I'm not doing enough with my life, and lecture me about how getting another degree would give me power over my life and surroundings. Bullshit, I lived in a neighborhood full of doctors and make more than a lot of them.
Wanting to move up, either comes internally, by family or is helped by government. We all managed to get degrees and more pay (but also more school debt). Capitalism won't work in the long term if large segments feel as though they can't do better, or that it might be easier to move ahead if they take up arms. Plenty of people I grew up with seemed to think it would be easier to sell drugs or use a gun to get ahead.
Consolidation of wealth is a concern to me. I'll always be fine, as I cater to wealthy individuals. We don't mow lawns, we do high end projects. I'll always find something to sell, that's my gift. I'll be selling bullets in the Zombie Apocalypse. But I do believe that going Dumar's route would move the U.S. backwards. China and India are going to be more important than the U.S. eventually. They embrace the free market, while we continue to move more towards Socialism.
Here is one my professors, who is highly revered and could teach anywhere in the world says it. "They are playing by our rules, and we've torn up the book."
