Giardiasis said:
You are mistaken if you think the western economies are capitalist. The previous article I assume you skimmed through for all of 5 seconds goes into more detail. Also I think you'll find Chinas's success hasn't been on the back of Moa's 5 year style economic planning, but by pursuing policies that would have Marx turning in his grave.
Correct me if I'm wrong, but wasn't the author advocating widespread deregulation? China is one of the most heavily regulated countries in the world, they are also one of the most efficient. Deregulation in the financial sector, health, education, transport, farming, weapons manufacturing and the prison system has been one big fail in America, and it's rotten legacy will remain whilst the ever powerful lobby groups continue to buy off politicians.
We can attach irrelevant labels like capitalism, socialism and Marxism etc, but these are such outdated labels which simply scream fear mongering (note the author's thinly veiled attempt at creating an illusory enemy).
My constant gripe with such broad brush analysis is that it's completely devoid of examples. Theory is one thing but back it up with some facts. It's all too easy to revert to a grab bag of lines from dusty old textbooks, but let's start to frame our arguments with some topical examples.
You seem to be firmly entrenched in your free market dogma so how about providing some evidence of free markets behaving in a way which doesn't gravitate towards monopolistic dominance. After all, isn't this the very thing that the free market fundies have been trying to avoid?