I'm not so sure any more. China consumes 25% of the USA industrial automation machinery. They're obsoleting jobs in China at an accelerating rate. They will reach and surpass America's looming issue of the unemployed and unemployable 'labor' class growing beyond manageable bounds. When industrial output is largely automated, where are all those people to go?

Folks wave their hands and imagine some better future where they do more useful things. But the number of useful things is actually rapidly diminishing. Creation of products and materials doesn't need actual humans, not in the numbers they historically did.

So whatever China did in the last 40 years, they will have to do something completely different in the next 40 (or 20 or 10). The problems are different. Never mind "the people control the means of production". The people will have nothing to exchange of value to the new industrial complex, when labor becomes useless and meaningless.