China: The Helpless Giant
(www.zerohedge.com)
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Correct. They are still borderline 3rd world now in terms of per capita income (that "purchasing power parity" bullshit is fraudulent).
I don't see any way out of this mess for them. They at least need to earn enough in foreign exchange to pay for imported food and energy, since they have so little of those resources themselves... but even that is going to be difficult. If they manage to get rid of the CCP, then they should have a decent chance (especially if we help them once the CCP is gone).
The problem is further compounded by the fact that their growth is mostly attributable to the west rolling over and handing China its manufacturing and IP (thanks to China bribing its politicians). Not only will this gravy train end, but there will probably be a backlash against China. Their ‘competitive advantage’ will disappear in a heartbeat.