China is through the period of easy gains in their economic expansion from the days of early developing nation status. The next 10-20 years will answer your question (including, critically, what Xi does from here forward and what comes after Xi). If their model stifles - and or to the extent that it does - it'll become apparent as economic gains get increasingly difficult going forward and the segments they begin to compete in are much more challenging (the US in software, Germany in high-value manufacturing, going after semiconductors, aerospace, building quality automobiles, et al.). There have been potent signs all across their economy for numerous years now that growth has become far harder and more expensive to acquire, how innovation maps to that context will be interesting to watch.
Their style of governing is very clearly not super robust. If it were they wouldn't need to so extremely tightly control their people in every possible manner. They regularly reveal how fragile the system is in their behavior, including how very easily their party ego is injured (which partially reveals how fragile they view their own position, that they're so obsessed with maintaining the facade of omnipotence; they fear any cracks). That also doesn't mean it's a house of cards, the CCP has proven they have staying power, even if it's expensive ground to hold.