And the results are in.
Would you like to live in 1970s Russia or 1990s Russia as an ordinary Russian?
I don't know, I was born in Czechoslovakia.
China had the disadvantage of being the most populous country in the world.
In crisis, economic or otherwise, Czechoslovakia is much more likely and capable of being rescued by the international community. China will need to rely on itself if only because it is way too big for any kind of help to be substantial and meaningful.
Thus the outcome will likely be even worse than Russia, which only has around 1/10th the population of China and an impressive natural resource reserve.
Taiwan is an independent country with full democracy system but not being recognized by international society because China is pushing its "One China" policy to other countries. Foreign countries or companies violate this idea would be punished economically by China(France got punished for selling Mirage 2000 to Taiwan)
Chinese system does not have any such valve.