I think calling it a "State-led" market economy doesn't provide a good picture of what China's Social Market economy actually is. And while the video is called "The Rise of China" they focused most of the video talking about not China.
While the "Jenga" analogy works, they neglect to mention that these experiments take place locally.
If you want to learn more about the Road to China's Socialist Market Economy, then read this book. Or if you don't want to pay/wait for shipping, here are some other decent books that I have lying around in my Mediafire Drive.