Really? Are we thinking about the same country?
China may be an emerging capitalistic economy, but they are very much un-capitalistic in their governance. That they choose to ignore the environment and don't care about the health and safety of their workforce is NOT what we have here in the USA and we never will.
But China is NOT an argument for government control, because China's government has absolute control, they simply do not care. China's quest is for power, economic and military, and they will use any means to improve their position, including allowing the worst abuse and environmental harm as long as it gets them what they want. You see, China is literally at war already, so lives and environment don't matter.
China's problems stem from government, not capitalism.... Capitalism is just one of the tools they are using to further their goals, but you can bet they will stop it as soon as it doesn't do that for them anymore.