I agree with this by and large. Also the monetary effects of a basic income are largely unknown. Should we talking about a basic income, or basic wealth? They aren't the same, and monetary redistribution will certainly fall prey to schemes that will not be anticipated. There are aspects of our welfare systems that are similar to basic income. Experimentation should start with modifications there, especially where the beneficiaries have extreme unemployment. I don't see China as socialist, however. Their stability is also a very open question. They have a young government that has changed drastically in its short history.
China is currently built on authoritarian capitalism - a model adopted from Singapore. The TPP is an example of authoritarian capitalism spreading to North America as well - which should be our biggest cause of concern at the moment. But in the future I think China will undergo enormous economic change due to automation. Most Chinese labour (especially factory labour) can be done with robotics/AI.I don't see China as socialist, however. Their stability is also a very open question. They have a young government that has changed drastically in its short history.