Modern communication technology has allowed China to have a centralized bureaucracy that is less likely to become over-arching and overly burdensome. The danger of a meltdown in the regional structure, with consequences for parts of the central government in rebellion, is diminishing every year. The risk is not entirely gone, however, if rapid economic growth collides with serious stagnation and even GDP reversal. To this day, China has the uneven centralization of 18th-century France and happily engages in large-scale commercial practices.
Chinese society is not yet fully urbanized and stable. Beijing cannot yet embrace modern trade practices as Japan and Singapore have. The Chinese political center has only recently overcome the last vestiges of feudalism, warlordism, and peripheral regional integration. Having dealt with this, China is following the same economic path that allowed the Kaiser’s Germany to develop rapidly while benefiting from British post-mercantilist freedom.