It's still 1.4 billion people, 100 million party members, and a mostly capitalist economy where nobody stops you from starting a business. Decisions get made at all levels.

What's interesting is that, however you want to characterize their system, they're actually investing in a more diverse set of things than we are. Yes, AI is on the five-year plans but so are lots of other things. The US elite investors are pretty much only AI, all the time right now.

I don't agree with "mostly capitalist" when (again) most investment is made by regional banks that are state-owned enterprises with strong guidelines set by Beijing about what sectors to invest in.