China is certainly an interesting exception to so many rules, but fundamentally capitalism is about the freedom of individuals to employ their capital as they see fit and reap the rewards from profits gained thereby. China does now have a burgeoning private sector, but it exists and thrives only at the discretion of a totalitarian state that runs a parallel statist economy in which political power is the route to wealth. All those billionaire members of the Chinese government didn&#x27;t gain their wealth by investing capital. They gained it by leveraging political power. Of course now that they have wealth, they want ways to be able to invest it and become capitalists themselves but that side of the economy is more like an oligarchy at this point.