[Rockingham]

With the rise of manufacturing in Vietnam and other lower labor cost venues, China is no longer the cheapest manufacturer. Moreover, China's desire to strengthen its financial markets and establish its currency in a trade and reserve role now rule out competitive devaluation to undercut rivals.

No longer able to rely on a strategy of export-led industrialization for growth, China's interests and economic position now require it to confront the dilemmas and compromises of an over-leveraged middle-income economy with an aging demographic. So far, its leaders seem to prefer the fantasies of its Belt and Road iniative and blaming Donald Trump and the United States as things go wrong.

[Elsie]

...blaming Donald Trump and the United States as things go wrong.

'Leaders' must ALWAYS find an external boogieman to blame; else finding themselves on the OUTS with their countrymen looms ever closer!