Yup China has the fastest growing billionaire and millionaire class. It's no more socialist than America but we need a boogy man, as long as that antagonist isn't capitalism the wheels towards the cliff will keep turning.
It's an authoritarian country where labour unions are illegal and the ruling party is dominated by wealthy billionaires. They spew out xenophobic propaganda that claims that foreigners want to repeat the humiliations of the past (over a century ago) and therefore they need strongmen to protect the people.
We probably should just call them fascists, but since they say they're socialists we believe them. Fascists would never claim to be socialists, they're known to be super honest about that kind of thing.
Labor unions are not illegal. They send a packet of meats to my girlfriend every year. The problem is that this is that only thing they are allowed to do