Corruption definitely happens in China but even as a US person I can think of at least one major case where there were very real consequences for that. How many US govt officials have been executed for corruption? https://en.wikipedia.org/wiki/Li_Zaiyong
replyMillions starving during the Great Leap forward was very much NOT part of the plan, it was the result of some very misguided agricultural practices.
My point is that in the same period, China has gone from "oops we accidentally caused the 2nd largest mass starvation event in history" to "we have the largest high speed rail network and manufacturing base in the world and nobody is even close."
While the US went from "what's a postwar superpower to do? How bout some megaprojects?" To "I'm drowning in entitlements and houses now cost the same as the average lifetime GDP per capita".
China is so technocratic and efficient that it has been faking growth and population statistics for the last decade, hides youth unemployment numbers, and raids due diligences companies who may provide external investors more realistic data about the economy or local companies.
replyAlso, China has its own real estate bubble, so it is not immune to those issues. At least in the US people have some recourse at the individual level.