>Everyone thought that as new countries got richer, they would follow in the steps of western values (democracy, free markets, etc.).

Maybe the markets enthusiasts were sold that idea, but even if I was too young to be into politics, I do remember that some circles (leftist) were pretty skeptical of the globalization push, which was seen as imperialism and a way for the elites to enrich themselves. After all these years, not only the pro-market camp's promises didn't came true, but maybe the chinese were also keen to participate trying not to come too affected by the imperialism.