exactly zero serious people draw that connection, and it suggests that you either dont know what the term means or are constructing a strawman. Most of the economic literature for the last 150 has explored the constraints on markets and their function.

The efficient market hypothesis TM is a very narrow theory about price information, it says nothing about Economic Development or Direction. It is a theoretical extreme that can be used to compare real world Systems.

Further, China's success relies heavily on market processes