—“Why has socialism, or “Socialism of Chinese Characteristics” been so successful in China?”—-
It hasn’t been. It’s state corporatism that has been successful in china. China is run as a for-profit corporation of 1+billion people, using the country’s intergenerational borrowing capacity to attempt to create a modern consumer economy by using that borrowing capacity to move vast numbers of people from villages to urban centers in the hope that it will generate sustainable economic velocity.
The outcome is good so far but just as the french revolution’s experiment is not quite over, that of china has a long way to go yet. It is a very poor, very corrupt country that remains very poor very corrupt.
And capital is fleeing the country like rats leaving a sinking ship – so that is pretty good evidence that those living there with resources know that it will soon end.