No...
They are lacking in environmental regulations but they are most fucking definately NOT a free market...
It's China, ie Communism, ie not free market with the single exception of Hong Kong.
Well they unfairly COMPETE in a global free market...
Both the US and China compete in a variety of markets...the Chinese government subsidizes some of their products leading to "dumping" and other unfair trade practices...
For example, both countries produce steel...the free market determines the price per finished ton. If company A sells for $1 a pound, company B has to match it or lose business. American companies can compete because shipping 50,000 pound coils half way around the globe isn't cheap...but then the Chinese government gives their companies cash, the companies then can sell it for less...and American companies and jobs get ass fucked. Then, they devalue the yen and get an even bigger advantage...
So China may not technically BE a free market...but the free global market is where they compete...and frequently win by cheating...
And if America doesn't soon wise the fuck up...China will be the main supplier of steel used in sensitive military applications...NOT the best idea...