Governments can be learning organizations, especially when they have long time horizons and balance agenda with reality. If anything, I think China has shown that central planning can work and is even the envy of Western leaders (see: Canadian PM Trudeau's admiration).
The implicit agreement in China is that in exchange for your freedom, you receive prosperity.
Russia - especially after the West seriously damages their economy - can easily form a similar narrative, especially when the West is being sadistic about it. Nationalize most things now when the equity is dirt-cheap because unwise Western governments have forced the hands of banks, investors, and funds; then privatize things as the new anointed class rises. Key for them will be to reward merit and capability, not just loyalty.
China doesn't have a centrally planned economy though. It certainly has a lot of state intervention, but resources are primarily allocated through market mechanisms.
Much of its industrial policy actually resembles that of democratic states like Korea and Japan.
I'd argue China's experience presents a great argument for a mixed market economy that allows state intervention, while also recognising the importance of markets and decentralised economic coordination.
However, we shouldn't overhype China's progress. The fact of the matter is that China was always destined to become an economic juggernaut given its population size, stability, and resources.
It's just China had been tied down by Mao and his supporters managed to hijack the government for several decades and hindered China's ascent with their whacky policies. We're now seeing it snap back to where it belongs.
The implicit agreement in China is that in exchange for your freedom, you receive prosperity.
Russia - especially after the West seriously damages their economy - can easily form a similar narrative, especially when the West is being sadistic about it. Nationalize most things now when the equity is dirt-cheap because unwise Western governments have forced the hands of banks, investors, and funds; then privatize things as the new anointed class rises. Key for them will be to reward merit and capability, not just loyalty.