It is working, but not the kind of "working" that I call
a success. It retained the politically & socially authoritarian
communist government.
You can go further back than that, it's government structure has changed very little since the days of imperial china. Since then it has only added a veneer of communist rule.
I'm surprised to hear China is "democratic".
Not a lot of voting by the populace..
The structure is different to most western countries.
At the peoples level, they vote for local level candidates.
At higher levels of city, region upwards. Each level elects the next higher level till the highest level votes for the leader. This is remarkably similar to the system used in the Church of England, and many other organisations.
It is a very efficient way of handling multi tiers of elections, as each level has intimate knowledge of the people they are electing.
China has begun wasting much money
on its military though. But this is a policy
independent of its economic system, ie,
it's a political decision.
I would not call China's military expenditure wasteful. It is many times less than the USA. however it has built up a largely defensive structure to cope with any likely attack by an enemy. Apart from long range missiles it has very little extreme range attack capability.
The American Military LOBBY system is perhaps the most wasteful of all. Resulting in disjointed planning a duplication and uncontrolled waste. While panning for sustained supply of ammunition and armaments due to use and attrition are almost entirely absent. As is the capability of replacing capital equipment such as ships.
I wouldn't call China "socialist" these days,
given that it has a market economy. Although
Xi has made remarks that he wants to make
it more socialist than it currently is.
China at a people level is highly socialist in nature but blended with Confucianism.
Economically it is based on a mixed economy, but with many more safeguards, concerning China's interests, and especially for complying with the countries 5 year plans.
It has been reports that Xi is particularly concerned with the disparity between the extreme wealthy and the layers of wage earners. And is also continuing to stamp hard on corruption of all kinds In both the private and public sector. This has been considerably reduced during his term of office.
A major factor in Chinas success it the efficiency and high level ability of its administrators.