Charlie Munger summarized capitalism in China at the Daily Journal annual meeting last month--
"A lot of people assume that since England led the industrial revolution and it always had free speech that free speech is required to have a booming economy as prescribed by Adam Smith. But the Chinese have proved you don't need free speech to have a wonderful economy. They just copied Adam Smith and left out the free speech and it worked fine for them."
around the 46 minute mark-- https://www.youtube.com/watch?v=Pp4CvjNw-9Y