China is simply a factory nation - and it’s one on the precipice of economic disaster as more companies leave for Vietnam and other locations.
China thru stolen IP and forced technology transfer is becoming a monopoly in key industries that will supplant its rivals. China is now the largest automaker on the planet by a lot. They are developing their own commercial aircraft industry. They are the largest manufacturers of steel and aluminum. The list goes on and on.
The Chinese can undercut its rivals with cheaper prices subsidized by the government. They dominate international trade.