The system not only encourages but requires inequality. Today's billionaires accumulated that wealth off the back of countless toiling workers, many doing so in miserable conditions.
Why is it so clearly capitalism that lifted those people out of poverty, and not modern advances in technology, such as in food production, efficient transportation of goods, sanitation, and medicine?
Because of the evidence of India and China is compelling.
https://www.gapminder.org/tools/
And in fairness, 'capitalism' is a very imprecise term which often means different things to different people.
So if the open market would be the only reason of the progress we should've seen something similar in the two countries.
The only similarity that they both share is a growing disparity between high income class and low income class
Also Chinese policy is more towards open trade than open market. I feel that complicated topic such as progress can't be condensed into one action that can deliver the expected results. In fact is always a combination of policy that bring the desired effect