Part of it is that we are stuck in 4 year election cycles - "life had better look great in 3 1/2 years, or we're getting turfed." The Chinese have no worries in that regard.

And they did the freedom thing right, too, IMO. The Russkies simply let everything go to pot in about 3 months. These guys held on to the political reins, while opening up the money markets and the import markets. They understood that the former was necessary to keep things orderly, and that the latter would keep a large majority of the populace quiet for many years. What they do when the majority decides it wants political freeedom is another thing, but I wouldn't be surpised to see the next generation of leaders begin to embrace political freedoms when they move into their "Jade House".