Capitalism doesn't have much to offer if it can't provide an increasing standard of living. Even at it's best it is highly unstable, prone to crisis, deeply unequal and in general, alienating.
With 30 years + of wage stagnation in the U.S., neo-liberal economists increasingly have had to point to China and other emerging economies as proof that capitalism still works in its fulfilling its main promise. Even if those countries achieved success by ignoring almost all neo-liberal advice.
And I would argue that the rise of some of the developing world has merely exacerbated the structural issues in the global capitalist system. Basically, a world economy reliant on a U.S. consumer to soak up excess capacity, a consumer now broke and underemployed.