Look, China may not have eradicated poverty but certainly it was able to make the average wages go up 5x a decade for 20 years. Could this be done by uncoordinated market activity of private actors? Perhaps, but the USA has never been able to pull it off so fast.
Now one can argue the US always had a far higher starting point so it ran into diminishing returns. And that is a fair argument.
But keep in mind USSR’s GDP grew faster than USA and they faced the aftermath of two world wars, lost 30 million people and also subsidized lots of other countries in the Warsaw Pact (their version of the Marshall Plan). Compare apples to apples, eg the GDP of Romania after it joined the Eastern Bloc vs Hawaii after it was annexed as the 50th state of the US. Or compare GDP growth of Georgia and Puerto Rico.
It’s not actually clear which system led to more economic prosperity, and as I said the USA had the advantage of oceans protecting it, the dollar was the reserve currency all around the world after Bretton Woods, and we could import cheap goods all year long by just printing dollars. That has a massive effect on prosperity.
I don't think Romania and Hawaii form an apples-to-apples comparison.
Romania: a country in Europe, occupied by the Soviets after World War II, with 16 million people. Neighbors Hungary, Yugoslavia, Ukraine, and the Black Sea.
Hawaii: a U.S. territory for half a century, with 620 thousand people. Noted for its proximity to Johnston atoll (825 miles from Honolulu), Midway Island (1311 miles), and San Francisco (2393 miles).
And with China, I don’t think it is at all accurate to say that the millions of miles of new roads, bridges, infrastructure, ghost cities etc. were built because private market actors woke up one day and decided to make massive infra investments. It was central planning. And a lot of the science, electric vehicles etc. is sponsored by govt too, that is why China is the world leader.
Edit: A better example for you would be Singapore, with its history of public housing, which gets privately owned (or 99-year-leased). They also have public roads.
Developers acquire new plots of land from local governments and are mandated to construct something more or less immediately. Developers can't sit idly on vacant land and wait for the surrounding area to develop until it's economically viable. This creates the quick-buck mentality in developers to rapidly build in the new area without the necessary demand for housing.
"The cities are product of plan-driven economy that many cities are not expected to be complete or vibrant after 15 years of construction."