Earlier quoted context omitted.
Most of China’s exports are low value manufactured goods which can be made elsewhere. There’s a lot more countries in the world than there are Chinas, even if your worldview counts both of them.
That used to be the case; now the new Silicon Valley for producing anything is in Shenzhen with crazy innovation (kinda like what Japan used to be in the 80s). You can set up your own goods production there in minutes and in all kinds of quality as your budget allows. A regular Chinese now matches a regular American in quality of life as measured by typical economical metrics (adjusted for purchase parity, not in nom…
No. China’s per capita GDP adjusted for purchasing power parity is still under US$17K. Even with perfectly flat income distribution that would be around half of US median personal income. Realistically, the gap is much more than 2×.