For those who dont agree with China's economic model for ideological reasons should think again, IMO; that is if facts matter.
China's economy is fundamentally a command economy (moderated by the market) with its Yuan tethered to the US for import and export price stability.
Made in China 2025 was devised in 2014-15 to direct industrial development in 10 sectors which would be supported by the central government.
Just take one of these sectors for example, namely Auto/Auto parts manufacture. In 2014 China was a long way behind Japan, Korea, US & Europe in auto manufacturing. Today (and its not 2015 yet) China owns 30% of global auto manufacturing and its leading that way in BEVs which many say is the car of the future.
Similarily, in Space technology, very fast rail & ship building, China has advanced dramatically since 2014 (by the way the BRI was also devised in 2014) .
China has a Real Estate bubble (much like the US leading into the GFC but unlike the USA, China will have no compunction in nationalising these mostly privately owned failing developments (like Ireland did in 2009-11 via its State owned NAMA ..Bad bank)
China's economic model is evidently working better 9at present) than that of the USA because China has less Sovereign debt, more foreign reserves in securities, Cash & Gold and ongiong massive annual trade surpluses ....so much so that China can afford to finance its external BRI projects most of which haven't reached cashflow positive yet.
So rather than be ideological (the Renaissance had to debunk that in order for science to prosper), best to look at outcomes: China: -commands 30% of global trade -uses almost 40% of global energy # -world leading importer -world leading exporter - between $3 & $4 Trillion of liquid foreign reserves
# China imports most of its energy , hence the need to firewall its supply routes should the US decide to impose Russian type economic sanctions in China later .
IMO China's "no limits" support deal with Russia in part is about its energy security . Russia's Arctic oil and gas development project will have 2 benefits to China: -Open up the Arctic route to Europe for Chinese manufactured goods - Supply China with secure oil & gas supply given that this Arctic Region of Russia is supposed to contain 20% of global oil and gas.
