The more I study economics the more I realize is that unless the person is a Marxist economist he will almost certainly have no fucking idea what he is talking about, and if he happens to be right it should be seen as a miracle.

When it comes to random people talking about China's economic policies you can be sure they have the most superficial analysis possible, you know something something government controls therefore authoritarian, if capitalist therefore authoritarian capitalist, great me great thinker yes yes.

As you pointed out in China the government controls a large part of the economy, Marxist economist Michael Roberts is someone I like to quote whenever possible.

I remind readers of the study I made a few years ago of the extent of state assets and investment in China compared to any other country. It showed that China has a stock of public sector assets worth 150% of annual GDP; only Japan has anything like that amount at 130%. Every other major capitalist economy has less than 50% of GDP in public assets. Every year, China’s public investment to GDP is around 16% compared to 3-4% in the US and the UK. And here is the killer figure. There are nearly three times as much stock of public productive assets to private capitalist sector assets in China. In the US and the UK, public assets are less than 50% of private assets. Even in ‘mixed economy’ India or Japan, the ratio of public to private assets is no more than 75%. This shows that in China public ownership in the means of production is dominant – unlike any other major economy.

And now the IMF has published new data that confirm that analysis. China has public capital stock near 160% of GDP, way more than anywhere else. But note that this public sector stock has been falling faster than even the neo-liberal Western economies. The capitalist mode of production may not be dominant in China, but it is growing fast.

Of course China's socialism by 2050 and other plans may not pan out or capitalism may develop even further in China despite our hopes, but to say that China is the "future of capitalism" is unimaginably misinformed as to be laughable, the structural, political and economical changes necessary for western capitalist countries to adapt to the Chinese "model" would be akin to a revolution in of itself and this never happened even after WW2.