We love in a kind of bizarro world where the “capitalists” have printed so much money that they’re wildly inefficient in allocation of resources, as evident by all the excess cash sloshing around; while the “communists” of China and to some degree Russia and the BRICS in general are widely efficient in allocation of resources, as evident by the creativity and innovation and advancements they’ve made in very short order.

That’s at least my generalized perspective.

Russia has allocated a significant proportion of its resources to exterminating its own children.

China has done well, but the rest of the BRICS categorization makes no sense to me. India (and also Pakistan) are behind China on renewables but are having a huge surge right now.

Including Russia and BRICS doesn’t support your thesis. Nothing efficient about their resource allocation

(And China is a state capitalist economy)

I can't see much creativity and innovation in Russia. They sell oil and natural resources & use the money (whatever is not stolen by oligarchs) to fund an unnecessary war which they are losing.

If anything, Russia is a prime example of inefficient allocation of resources.