I mean, Jesus Christ, America. We can see it happening right now in China. They were shit in the world economy (and their own economy, for that matter) until the government started letting businesses actually profit and compete with others (i.e., more capitalism).
The Corporatism part is quite right, after all the corporatist state envisioned by Mussolini was a system of lobbies, regulated by formal mechanisms. However, when Deng Xiaoping turned China towards a market economy (but not really a capitalist one) in the 80s, China was already doing comparatively better than India or Brazil, two capitalist states that a few decades early were in a better position than post-revolutionary China. The actual Chinese economic system is a bit complex and not really capitalist, its big players are state owned and the banking system (that is the capitals) is mainly state-owned or under the firm grip of the state.