It's undeniable that Chinese transportation infrastructure is amazing, especially high-speed rail.

Compared with the United States, public health care is less available in China. Retirement pensions are an order of magnitude lower (even with PPP adjustment), hence their world-leading savings rate. Social mobility is lower: getting a permit to access social services such as schools in a new city is difficult. Youth unemployment was above 25% the last time it was published; it is no longer disclosed.

Rule of law is much less strong. Injustices committed by government officials towards citizens are unlikely to be addressed.

Housing costs to income ratios are an order of magnitude worse in cities with job opportunities.

The Chinese government has chosen to allocate capital toward industrial output at the expense of its citizens' welfare. It has succeeded at its goal. Perhaps in the future more capital allocation will be made to consumption. That is not the case at the current time.