It will be interesting to see what China does. They aren't ideologically committed to exclusively serving the interests of the wealthy, but they still have lots of rich people in the (ahem) Communist Party, so who knows.
That is not to say that in time they’ll start to do many of things that happens in the west where those at the 1% or 2% walk away, in time China may drop down to that level, on the other hand, I would like to believe the United States will start to have the same reaction that the country had when Sputnik went around the Earth and change course and I don’t mean sanctions, tariffs, wars, and threatening neighbors to the north and to the south.
In the west, billionaires are often able to get extremely favorable treatment by the law as an expression of the power money gives. This is not the case in China, in which the party stands at the top.
In practice that's just a difference of incentives that I'm not sure at all is beneficial for anything but an authoritarian regime.
One can prefer a regime where it's very hard for people who abuse their power to avoid punishment if it's all public to one where the powerful are emboldened enough to be able to be shameless. Even worse when the shamelessness is seen as the purest display of power, and thus people compete in their public misbehavior. But still, understand that the real barrier to punishment in the first case is not to avoid doing bad things, but to make sure that the witnesses either don't exist, or are too scared to say anything.
A judicial system that actually has no sacred cows would be better in all cases, but the sacred cows everywhere do their best to make sure this doesn't happen.
https://en.wikipedia.org/wiki/Report_on_Manufactures
https://en.wikipedia.org/wiki/American_School_(economics)
Parallel: the industrialization of China for the most part happened after Deng Xiaoping, but are people wrong to credit him for setting the course?