China has some elements of capitalism but it lacks freedom. You have to have freedom in order to have true capitalism. That is a basic lesson of Milton Friedman.
That is one of the reasons I don't invest in China. I used to own stock in a Chinese telecom company. One day the government came in and took over a good portion of the business, which was functioning fine and the stock took a dump.
Say what you want about capitalism in this country, it isn't like that and won't ever be like that. China will be a paper tiger as long as shit like that can happen.
"I find that the harder I work, the more luck I seem to have." - Thomas Jefferson (1743-1826)
"There are four boxes to be used in defense of liberty: soap, ballot, jury, and ammo. Please use in that order." - Ed Howdershelt