The fundamental requirement for any type of economic system is trust, a respect for private property rights, and a certainty of a level playing field, i.e a non-rigged, non-corrupt and reasonably efficient system. China has NONE of these basic economic foundations.
China is a corrupt oligarchy of senior party and government officials, a military that resembles a private corporation, superimposed with the threat of violence over a seething mass of angry citizens. The economic growth in China, since Nixon stupidly allowed them access to our economy, has all come from rampant speculation in real estate, stocks and slave labor based manufacturing and industrial industries. China has forgotten, if it ever knew, economic freedom requires political freedom. You can’t have a market economy without political foundations based on fairness, freedom and private property rights.
China is going down, hard. It will be a bloodbath and may resemble the Smoot-Hawley tariff act that indirectly collapsed global trade and led to the depression.
The debt is not payable. Nuff said