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That's what dictatorships eventually do most of the time, yes.
Singapore and China being notable exceptions. And few fuck up as badly as Iran.
China's had pretty bad periods too. Ironically, capitalism is what lifted them out of poverty, they just did it slightly smarter than most. Their size also means they can just ignore things like IP without getting sued, which was great for them when they were still playing catch up when it comes to technology.
Basically it's the planned economy that makes things very hard to get right. China realized that, which is why they regulate the economy less than the soviet union for an example.
Not too up to date on Singapore so I can't really comment on that. But I think they also keep a fairly liberal economy?
Mao set up the base for china's massive growth, some reading will help.
Market sucks.
Mate, Mao ran a genocide on his people. China's growth has been from efficiently using its cheap labour and the government protecting its corporations from the outside world (you pretty much can't sue a Chinese company and win as a foreigner) and the ability to throw its weight around in general.
Corporations are still kings in China, it's just that they have to stay loyal to the party.
Mao didnt ran any genocide, some of his actions were stupid but he didnt do it intentionally. Mao is easily top 5 humans of 20th century
Red scare propaganda, China's population doubled under Mao
Well I mean there's millions that were killed deliberately and then tens of millions via stupid policies. "Oops I didn't know people would starve" doesn't really absolve you of mass murder.
Not like he was the sole decision making figure but ok, "killed deliberately" ones mostly deserved it