I personally think it's due to Xi Jinping idiotic economic policies more than anything else, sure US policies helped but it wouldn't work either way.
They based their economy way too much on export and real estate to grow at a normal rate. The worst covid lock down in the world certainly didn't help.
The country is lagging behind because of their contradictions.
I agree with that. The thing that made them grow so quickly is now going to force them into reliance.
Encouraging consumption by creating more welfare programs, spreading corporate wealth to citizens via share schemes etc would be a way of changing this but I don't see this fitting into the Marxist production machine.
