Just five years China had near zero export to Russia. Now it is about fifth of that to US. They are exporting more to Europe and Latin America and soon to dominate Africa although Africa is not a market to sell that much although there is a room for improvement with near a billion potential customers. They have a room to expand domestic consumption too. Economy is not export only.
Agree on all your points. Just saying that a client who delivers 18% of your revenue has some control over you. Add some rebellion among your top revenue-producing employees (Hong Kong) and you’ve got a serious problem.