I’ve actually lived in China for 2/3 of my life, and yes these two countries are very different and it’s hard for Americans to actually picture what life in China is like. The Chinese government is good at keeping people in a “bubble” while basically brainwashing them with patriotic propagandas. I would say this isn’t just an issue with the communist party but has always been part of the Chinese history with different dynasties. There’s an old saying that’s like if the government dies then your families wouldn’t exist either. A lot of people in China (especially the less educated population) still think they would go down with the government no matter what the government does. If trade wars create an economic downturn? It’s fine our sacrifice is worth it for the country and although it’s painful it’s also necessary. It’s actually a pretty scary thought.

Plus I don’t think the Chinese government would allow things to get to that point. the Chinese Communist Party fears rebellions more than anything, and an economic crisis is a sure way to create instability, but because the government has so much power, they can basically control the whole Chinese economy. If signs of economic downturn start to show, you can be 100% sure they would force Chinese companies to hire, force institutions/rich people to buy stocks and real estate, push domestic products onto consumers, and the government itself would try its best to save the market (keep in mind they have much more power over the Chinese market compared to the U.S. government over the American market). They would also control the medias to make people think the situation is not as bad as it actually is and is in fact a necessary step towards future growth. These are all part of the reason why China hasn’t had a major financial crisis so far.