Adam Smith actually said...

Put most directly, Russia and China are now aggressively pushing an alternative view of the world, and of governance.

That alternative view is based on autocracy, the idea that democracy doesn't work, freedom doesn't work, you need to have a strong man.

That is a way to stand up to China because together we have half the world's GDP and we are dealing from strength.

Their economic model, I think, can best be described as kleptocracy, basically the folks at the top control all the money.