Branko Milanovic is arguing that the phenomena of China’s rise to economic superpower is largely ignored by mainstream economists, and I would tend to agree. In his podcast with Russ Roberts the discussion revolves around the western/free market economics perception that the only thing that prompted China’s meteoric rise was that they opened up to free markets (if they would’ve done MORE, they’d be further along).
They duly note that it will be impossible to evaluate these claims, but the fact remains that China is the economic miracle of our lifetimes.
I’d imagine that one of the most effective ways to evaluate China is as a corporation; Xi as CEO and citizens as workers. Capital allocation decisions are up to managers, not the market, in a corporation and they are measured based on they equity performances.