I think the most detrimental thing in communism (or socialism or whatever the local variety) versus most other forms of government was the lack of risk management. Wealth is alwas the end result of an exponential growth process.
But there is no growth without risk, and especially Mao has been guilty of all sorts of bad ideas "tried out" on a grand scale, ignoring risks and just aiming for the newest get-wealthy-quick scheme. That's why China today is extremely conscious about their growth. Not too high, not too low.
The only way to achieve this risk-managed growth is through a large and lucrative financial sector.
But there is no growth without risk, and especially Mao has been guilty of all sorts of bad ideas "tried out" on a grand scale, ignoring risks and just aiming for the newest get-wealthy-quick scheme. That's why China today is extremely conscious about their growth. Not too high, not too low.
The only way to achieve this risk-managed growth is through a large and lucrative financial sector.