That part I understand but it failed to happen going from one dynasty to the next followed by another.
They did not call themselves emperor and changed from an individual to an oligopoly system but there is/was no check and balance system and there is still no peaceful mechanism to transfer authority from one regime to the next without a civil war/revolution breaking out.
Here we see the CCP institutionalised the "peaceful" handover starting from Deng, but we never know if Xi Jin ping willing to transfer power 8 years later. There possible might be violence and unstability in China. One generation might differ from the next. Unlike the US system, where who has the largest politcal war chest and donation wins the Presidency buying media and opinions ads. You can see how important this is, when current President Obama doing the usual round fund raising activities.