That's like 10% of the story. There are dozens of countries that moved to a more capital oriented economy yet there is only one China. The philipines, Indonesia, Malasia, the whole continent of Africa or South America. All capitalist economies, even neoliberal. Yet none of those countries that "allowed capitalism" come close to 1% of China's GDP. What's the difference? The difference is that in China the Communist Party governs. Society rules over Capital, not the other way around. That made the whole difference.