In spite of (perhaps more accurately, because of) China’s status as an allegedly Communist state, the country is essentially an oligarchy. That, in and of itself, does not answer the question as to whether China has effective government. What are the pros and cons of oligarchy?
The chief benefit to oligarchy is obvious; it is a guarantee of stable and at least minimally competent government. The world will gain a greater appreciation of these qualities as it observes the absurd machinations of the Trump Administration. The downsides are more subtle; a poorly-run oligarchy tends to be corrupt, self-serving, unimaginative, and uninspiring. With few roots in the general public, a limited understanding of public opinion, and little likelihood of reviving itself with new blood, an oligarchy tends to wither away over time (think Venice and the Netherlands).
How does this apply to the Chinese leadership? Whatever you may think of its views on universal rights or its foreign policy, there is no denying that the rise of China from an economic basket case to the world’s second leading economy over the last 30 years is a truly amazing success story. Never in human history have so many people been lifted from poverty in such a short period of time, and the government deserves a lot of the credit. The leadership is perfectly aware of the dangers of insularity and corruption and does battle with them on a daily basis. Whether they can succeed in the long run without creating a more open political system is, in my eyes, very doubtful.