china boom still has plenty of momentum, page-24

"The standard of living of the average Chinese citizen has improve enormously in the last 20 years - China was a country of bicycles at the time of Tienanmen - now it produces and buys more cars than any nation on Earth."

That is where the real problem is. Their population is too big. Their economic model is too energy consumming and dependant and far too resources intensive. In last twenty years, they already cleared all the easy dug resources of their own to satisfy their get rich quick desire. Now nearly all major resources rely on international market. That was not a miracle. That was a disaster. suicidal.They almost do not have any ability to make any high added value products. their cars are all asembled highly dependant on foreign key parts and Key IP or simply junks not road worthy.
One thing you are right. they are natural capitalists, but they are too capitalist to respect any law and order, therefore they will never be able to build a modern society. that is culture. something beyond economy,but have deep effect on economy.