As for PRC economy, well it's not reported that way outside and we are hearing various weary problems. The biggest problem is that the official economic index that are announced cannot be trusted at all. There are so many conflicting numbers that the government themselves announces I don't think anyone could predict with confidence the well being of the Chinese economy.
Inaccurate China statistics are well known, and there are workarounds by both Chinese agencies and Western (HSBC) sources. Facts are, there's enough good information for the global economics system to trust China's economy to engage in trillions of dollars in economic activities with the nation. Don't get me wrong, I believe China statistics can't be taken at face value, but there're sufficient gatekeepers to get 'good enough' data.
The problem is mainland china had been doing the same system from one dynasty to the next and it had never worked ending up with corrupt bureaucrats and power struggle leading to civil wars and revolutions.
What do you define as working systems? Covering early and late dynastic periods, Zhou Dynasty (1600-770 BC) lasted about 800 years, Eastern and Western Han Dynasty (200BC-200AD) lasted about 400 years, Tang Dynasty (600-900AD) lasted almost 300 years, Ming Dynasty (1368-1662) about 300 years and Qing Dynasty (1636-1911) almost 280 years.
China's dynasties and emperors don't come close to Japan's unbroken line of emperors, going back about 2,600 years, but no kingdom, nation, or empire does. It's a unique contribution to human history, and the world should pay homage for that unparalleled achievement. However, there were plenty of warfare and struggles by various warlords and shogunate until the Meiji period. As for China, compared with Western nations, her dynasties are as good or better in longevity.
Mainland china needs to adopt an independent check and balance system outside of the ruling regime to move beyond the continuing cycle of scrap and build of a nation.
You're right and not right. There's no question China needs to develop (not adapt) institutions that works with the culture. Even the Chinese themselves believe that, and Xi Jinping's reforms are meant to address some of the shortfalls. We'll see Chinese use systems from all over the world, including Japan, but with Chinese innovations.
You don't like China, I get it, nevertheless you should show some respect for the historical feats the Communist Party of China has achieved, since Ding Xiaoping reopened her to the world. China went from a bankrupt, feudal society with all hazards of the calendar into the world's second largest economy, and along the way her per capita GDP increased from about $150 in 1979 to about $6,000 in 2013. According to the IMF, China, by her little lonesome, accounted for about 40% of global economic growth since the Great Recession of 2008, and pulled about 500 million people out of poverty. It's true Japan and the West are still far ahead of China, and $6,000 a year isn't much money, but try and remember Communist China's economy today is about four times the size of "democratic" India, and the two countries were roughly equal in '79.