Careful… you are veering too close to the territory of pakijeets and bangelibilah posters
Why? 70% of Chinese exports are low margin junks. That means they have a need to produce humongous amount of junk to add to their GDP. The other 30% - they face significant competition due to localization policies. This is the major reason why Chinese economy has stalled and real estate has imploded as massive layoffs have led to a complete collapse of the Chinese dream for hundreds of millions of villagers forced to migrate to urban areas. Today in Guangzhou, 7 out of 10 export shops are facing annihilation as the very meager profits they are making from the low margin exports is just not enough to pay overpriced, real estate junk that passes for an apartment in China. Many Chinese are leaving cities and heading back to their villages as there is massive food insecurity in the cities with very high inflation. The US sanctions on trade and technology have drastically reduced their high value exports and other countries are now competing with China on the low value side. So, they are caught in a pincer. I don’t write them off but they are in massive trouble these days. Wolf warrior diplomacy and BRI garbage is all but over. All these facts are well documented.
Don’t be taken in by the people well connected to the CCP and their party secretaries and their mistresses buying Apple phones and Teslas. The average Chinese has been squeezed of all his or her blood - that is their savings to finance the CCP’s insane show off, non -reductive infrastructure. Their high speed rail alone is running at an $800 million loss every year. And, more alarmingly, the losses have been increasing. Several mega vanity projects have been suspended for lack of funds. And several more cancelled.
70% of their BRI loans have gone bad. Countries like Kenya have refused to pay a $4 billion loan they took to finance a failed railway line. And IMF now insists that countries cannot use WB, IMF funds to payback Chinese loans - something the CCP thought would happen. So the Chinese banks are now in a bad, bad shape. The low margin export growth is not sufficient to offset these humongous losses. So they are stuck.
Basically, the Chinese urban utopia dream is over and it is back to the villages for a more sustainable life for millions of Chinese. The number of empty buildings and unfinished construction has doubled and tripled over the last few years, clearly showing that hundreds of millions of Chinese can no longer afford urban real estate.
A string of bad policies, unnecessary fights with the rest of the world, making risky loans, inability to commercialize key technologies, food insecurity, poorly run financial markets have all combined to destroy China’s economic “miracle”. Lol.