Capitalism requires a layer of cheap, flexible labour to operate optimally. It is not a coincidence that the most successful global economy, by any traditional capitalist measure, is an authoritarian quasi-communist state.
The successful economies, by any traditional capitalist measure, are places like Singapore, Hong Kong, the US, UK, Luxembourg, Germany and so on. The rich as shit places. And barring Hong Kong’s status as an island of neoliberal orthodoxy in a communist state I can’t see that any of them could be described as an authoritarian quasi-communist state.
What he means of course is China but no, we don’t hold that up as a successful capitalist economy. For the glaringly obvious reason that it’s still pretty poor. Which ain’ty the point at all: it may be growing quickly, true, but that just shows how badly fully authoritarian communist states work.