Markets unencumbered by regulation are only magically efficient and/or arbiters of society's needs if you're a neoliberal fundamentalist.

For everybody else it's a (rather poor) allocation mechanism that implicitly favors monopoly power, wealth and corruption. Great if you happen to have a lot of wealth thanks to your connections in the Chinese Communist Party I guess, and are looking for an American bolthole. Not so great if you're an American primary school teacher who grew up in the Bay Area.