The emergence and development of the welfare state of capitalistic society is the self-adjustment of productivity development and model change of capitalist society after World War II, which has historic necessity and self-limitation. Formal “Nation Returning” does not change the production relation of capitalist private ownership, and the general high welfare of the society depends on the excess profit obtained from the world market by obvious competitive advantage. As a result, capitalist welfare state becomes the privilege of developed countries, which will cut or even eliminate social welfare to pursue the accumulation of capital and wealth when economic crisis breaks out or deflation emerges. With the development of economic globalization, the contradiction between capital accumulation and social welfare becomes more and more serious, and capitalist welfare state model faces the double challenges of the sustainability in practice and suitability in value. Based on the experience and lessons of capitalist welfare states, the latecomer countries should boost “structural or basic competence”, and seek the balanced development between economy and society. China should bring into fully play the remarkable advantage of nation system and national governance system and actively build the welfare society of the socialism with Chinese characteristics with nation leading, multi-factor of welfare and flexible mechanism.