It shouldn't necessarily be bad with proper oversight I think. It's for health and elderly care, and the management of non-performing assets, so it's not like these foreign institutions have unlimited growth potential and will continue to acquire critical assets in China.

The opening up itself wasn’t the biggest contributing factor, but rather letting liberal market economics become the doctrine. Liberal economics isn’t the reason behind the success of the United States, but rather subjugation of third world nations. This essentially creates a globalized economy centrally planned by US businessmen and enforced by the US military.

Foreign investment isn’t a bad thing. In a way, China’s economy was able to grow on foreign investment. What’s bad is letting foreign investment dictate your economy.

With that being said, China’s healthcare system isn’t very socialist to begin with, and letting foreign capital into the system compromises their ability to change that. My take on this is that foreign investment is mandatory to take care of the elderly population in China. The risks are that this will then introduce interests that push for the decline of the health of the Chinese population (decreased preventative care, etc) such that medical expenditure will increase.

If you want a deep dive, Gabriel Rockhill explains the dialectical materialism of China’s mixed market system in this video. The talk explains some Marxist concepts using real-world historical and contemporary examples.

Gabriel Rockhill - How The Left Should Analyze the Rise of a Multipolar World, China, Russia & BRICS