It’s a timebomb.
And you can’t have a capitalist economy while having a communist government. It’s a non sequitur.
253%, 105% and 48% debt to gdp in the world's 3 biggest economies. Guess who's who.
It's possible, but vanishingly rare, outside the sense in which non-Leninist/Maoist socialists describe Leninist/Maoist regimes as “state capitalist”, but while there is a case that that is a legitimate label, it mostly relies on “state capitalism” being a different-but-related system to traditional capitalism (which one might label “private capitalism”.)
> China’s government isn’t very communist these days.
China’s economic system is more like the form of corporatism found in fascism (whether the political system is otherwise fascist is a discussion for a different time) than either communism or capitalism, though if one subscribed to the idea that traditional Leninist/Maoist systems are “state capitalism”, that form of corporatism could be seen as a hybrid capitalism that shares elements of both state and private capitalism, but again that requires a broader-than-standard definition of capitalism, where the standard definition is specifically private capitalism.