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Absolutely. The world's strongest talent pipeline, the world's most competitive market, the world's best infrastructure. Some things like capital markets need major work, but they are simply the least bullshit large economy on Earth.
It's not really a command economy, their state plans are guidelines. What does happen is, for example, suboptimal investment due to provinces rushing to fill the quotas and creating unproductive competition. The cooking is not a big contributor at this point.
The US has no experience dealing with a competent adversary, so I understand reaching for a cached example, but it's laughable to compare them and their problems to the Soviets. Soviets exported… crude oil and timber, so I guess they were about as advanced an economy as Canada. Chinese export, for example, humanoid robots to work at Airbus and Texas Instruments. Is this all a big Potemkin village? Is everyone in the West just bribed (with money created by deficit spending probably) to purchase inferior goods and help Xi save face? Maybe, but then that means that Western economies and societies are inferior in another way, if they're vulnerable to such tactics. Personally I think it's mostly about productivity.
The nature of the rot is what is in question. I will not deny stuff like oppressing Christians (though I will say that the specific Christians oppressed last time were revealed to be the Zion Church, with family members in American anti-China think tanks, and are obviously part of the US-Zionist intelligence network; more grassroots Christians also sometimes get stomped on). I could write about involution, or about the insanity of LGFVs, or cratering fertility and nearly South Korean gender animosity. But those are specifically Chinese issues. They are largely immune to «generic Communist» strains of rot because they are not generic Communists, have a completely unique system and can only be properly understood as their own civilization.
China's barely communist by the definition of other systems. Even Mao's historical status inside China is in a weird spot where he's praised but also essentially nobody agrees with the cultural revolution and the worst excesses of his reign. I'd also rather have too heavyhanded handling of religious issues than the current Western meme of 'let the Islamists do whatever'
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