No, and neither is China.
Investing is an inherently risky business. Risk equals reward, and if you do not take risks, you will not be rewarded. They really do not take very many risks, and thus I find it dubious that industrial policy et al are really what is driving their torrid economic growth.
Why is China growing so fast? There are a variety of reasons, but the biggest two are:
1) They have a lot of room to grow: they have about 1/8 of the per capita income we do (mean - median is probably much lower), which implies both a cost advantage, and a moral imperative for growth that simply does not exist in the developed world.
2) More importantly, they free ride on the US and similar nations who have created environments conducive to entrepreneurial capitalism. It is much easier and safer to let other people try and fail, and then steal their good ideas, and China has been very good at this game for the past couple of decades.
So why can't they do it endlessly? I suspect it will come to an end as a result of the big mistake. Which mistake? We couldn't possibly know, but it will come. Sooner or later, we all get it wrong, and they will just have to hope that they get something small wrong, and not something that results in a serious crisis (mass starvation, etc).
Jared Diamond tells of the difference between centralized China and fractured Europe with an anecdote about Christopher Columbus seeking financing for his expeditions. He was turned down dozens of times before finally persuading the Spanish. In China, there was only one source of financing available, and they weren't keen on that newfangled idea of sea-based exploration. China has never recovered.
In summation, I like their short to intermediate term prospects, largely because of their work ethic, education and the reasons I mentioned earlier.
I'm less sold on their long term prospects because I don't think that economic success is primarily a function of the quality of labor - you could put all of the smart, hard-working people in the world into Papua New Guinea or Haiti, and it won't change much.
What really makes us wealthy is that we have allowed a system to evolve that provides individuals with incentives to use their local knowledge to create things that 99.9% of us would have never imagined on our own.
Luckily, the US has such an economy. Unfortunately for China (and for the rest of the world who might borrow some of their innovations), they do not, and no amount of brilliant consulting from the World Bank or anyone else will get them there.
We live in a world that is far more complex than we could ever imagine. I only hope we are as robust to shocks as we are innovative.