The key problem with command and control economies in the 20th century was those economies were fundamentally limited by the command's ability to capture accurate market data, learn they key insights about that data and then execute smart decisions.

I'm not claiming China is capable of doing that today, but information technology has significantly improved the efficacy of the leadership's influence on economic activity. However, they were also wise enough to distribute the work of optimising markets by allowing business owners and capital investors to benefit from the efficiencies they introduce.

Simply put: The Communist Party of China has been using a very different playbook for the past 30 years and they've benefitted significantly and the effect of IT has had a profound impact on their efficacy.

Let's see how the Chinese communist party handles a situation where the low hanging fruit of pedal-to-the-metal big percentage GDP growth has been picked.