I'm a huge fan of Foreign Policy, but I do think that this article is one of their weaker pieces. It basically boils down to saying, "Well, yes, China looks strong, but it has many internal weaknesses that may bring it down, and therefore we should be careful to plan for a future in which the Communist Party falls." Well, that may be true, but it's also unhelpful. It can be said for any country. I mean, no nation is invincible or omnipotent.
Yes, China has flaws in its growth model. But are those flaws large enough to knock down the Chinese Communist Party within the next two decades? I personally don't think so.