Who would've thought Communists would've made the best capitalists? China is a "managed economy" and about as far from "free market" as North Korea[1]. Does it work the same way? I don't think so. We know that corruption and graft have become the norm in China[0], not the exception, so I would contend it works nothing like a free market economy.
[0.] https://www.nytimes.com/2012/05/09/opinion/no-roads-are-stra...