Short answer: no, at least directly.
It's mainly because Nixon's turn to China, as part of the strategy of isolation of Soviet Union. US companies understood that moving its production infrastructure to China would give them benefit due to much cheaper worktime.
There was even a Simpson's episode about that tendency.
So, China obtained access to the western markets and huge investments from the western companies - and it definitely boosts its economy
Another question is, would the US ever "turn" to China, if it wasn't a UNSC permanent member - but it is unanswerable question, I think. It's a waaay broad suggestion to discuss about - for example another UNSC roster may form another Kissinger's triangle (or not triangle at all).