Totalitarianism has its efficiencies.
(I'm not saying all government projects are failures; if you thought I said that, read more carefully please.)
We'll see what happens when there is a real hiccup in the system. They've enjoyed huge growth for so many years.
Note that I'm saying you're wrong, and people will tolerate political oppression while they have increasing material wealth. When things go bad, they might go really bad.
It is actually Authoritarianism.
That said . . .
Yes, it is very efficient.