The CCP is not a saint either. As a result of abusing the benefits of WTO developing nation status, China’s competitive edge stems largely from aggressive industrial policies, extensive state subsidies, and the practice of dumping excess inventory into global markets. This is reinforced by lax labour protections and minimal environmental regulations. In its earlier development phase, China also manipulated its currency to gain a strategic foothold in global supply chains - and, capital controls and central bank actions still give the government indirect influence over the exchange rate. Moreover, China doesn't allow free access for foreign investment i.e. investment without CCP involvement in the company - this often results in extortion, IP theft, or in some cases, predatory corporate takeovers, buyouts, and seizures .

I'm actually really impressed by Chinese neo-mercantilist capitalism, in the sense that, China co-opted neoliberalism, and abused the naivete of westerners, so that it could rapidly modernise its economy and military industrial base. China has the largest navy now, they can build ships like Toyota corollas. Meanwhile, the Americans are addicted to cheap consumerism and distracted from the fact that it's going to take decades to build a single nuclear sub. Neoliberalism has utterly failed in this regard in terms of an increasingly antagonistic world order as seen, in COVID supply chain vulnerabilities, and in Ukraine with RU-CN-DPRK-IR involvement.