Maoism was a resounding success, it was the cultural revolution that replaced the middle class.
I think the lack of trust rises from the fact that the chinese middle class were very recently (< 1 generation) the poor/underclass. There concept of wealth is a lot more transient than the west's, they have a much greater fear of losing wealth (given it happened almost overnight during the cultural revolution). It generates what the west views as a "selfish" attitude, but is probably viewed by Chinese as "prudent".