How did the CCP create such wealth as it did over the past 30years? They had the help of sympathetic American and European political leaders, and the help of a credulous investment community who sent good money after bad into the gaping maw that is the Chicom economy.
Also, giving the Chinese Most Favoured Nation Status and WTO membership was like giving them a AAA rating.
Meanwhile, the Chicom’s system did have some of its own virtues to draw on. Using thievery and extortion, slave labour and a punitive social credit system, communists took IP from the West and linked it up with slavery from the feudal era to create a passable model of growing prosperity. But it was a sham. Underlying all of this manufacturing might was a open line of credit from the West that had to stay open for the lie to continue.
But now the Credit card is maxed out and cancelled. It was always going to end this way. And now the Chinese Communist State is laid bare as the Ponzi scheme and NWO testing lab that it always was.
It will take a while though; another tragic flaw in the Chicom mindset is the concept of “face”. They save face before they save themselves. Same happened with the Soviet Union by the way.
The most fundamental truth is that Communism does not work, has never provided prosperity on its own. Once the wealth of a nation has been tapped and expended by the commies, a process that can take several decades, the system starts cannibalizing the citizenry, forcing them into labour camps, forced-work factories. And the boot never comes off the face of the people until the Communists are run out of town.