Even with the current model of state directed capitalism, the amount of investment into social services and poverty reduction already shame the west. China isn’t yet in a position to press the communism button, but once the threat of America and it’s puppets decline there may well be a pivot.
This was also evident when they had that TOW test which should have been a simple point and shoot but the missiles were either so old or faulty they just fell into the ocean right after launching.