Not right now. The economy is really bad. The middle class is suffering. Housing prices are crashing. They do have the best infrastructure in the world though. Most companies are cutting the "middle class" employees pay in half and requiring them to work 10 hours a day 6 days a week. It's really rough there right now. College graduates aren't getting jobs and the government even had the audacity to tell them to consider going to farms to work. There is a reason the meme "lying flat" is so popular.Our Mainstream Media, in general, has been aggressively predicting Chinese economic doom for like two decades, probably more. Does anybody remember those reports on those giant ghost cities?
Our measures of economic health, which are largely oriented towards the health of shareholders on a macro level, are inadequate. I don't think the CCP and therefore, the Chinese economy, values what economists in the US value. They're always "surprised" and "concerned". It's like, guys I don't think it's gonna happen.
You can **** on CCP authoritarianism and lack of free speech protections all day. But, they have a thriving, THRIVING, middle-class, high-speed rail to everywhere, universal healthcare and ample housing. Their economic priorities are elsewhere, and as long as we refuse, on purpose, to acknowledge that, western economists will continue to get it wrong.
What you said used to be the case but it's not going that way anymore. That's why protests started. There is an unspoken agreement between people and the CCP there. Everyone knows it's oppressive but that's fine if the economy is booming like it has for 20+ years. They need to turn it around quick now.
Two big issues are that when COVID hit people were okay sacrificing for the greater good. If that meant staying home and burning through savings accounts okay. But now COVID is over people want to build back those savings. People don't want to spend. The other issue is that the local gov has almost exclusively been thriving due to privatisation of housing and selling new property. But the economy is slowing and the population is dropping. Developers aren't building like crazy anymore. This means no money for infrastructure and other things due to lack of property tax. But no one owns there land. They are only leasing it 40 to 70 years. No one knows what happens when that starts to hit, even the government. I could go on for days about this though.