For the losers, for the Americans and their crony media, they cannot see the contradiction in the title of this article. An economy, the biggest trading nation, with a trade surplus of US$1 trillion, is collapsing...only in their minds, what they are wishing and praying for day and night, for China to collapse. Sorry, it is not going to happen. But for the hardworking countries of the Global South, many are celebrating China's success. They are now able to enjoy all the great and useful products Made In China with their little income. No need to pay for an arm or a leg for all the goodies and niceties they need. No need to pay $30,000 for a handbag. No need to pay hundreds of thousands for an American or European cars when a better Chinese EV can cost only $10k or $20k.
What is important is that China is creating a lot of jobs in the Global South countries. China is moving up the value chain and migrating their lower value production to Global South countries. Many countries in ASEAN, Africa and Latin America are beneficiaries of this manufacturing migration. They are taking the same path that China trotted, starting from lower value manufacturing to build their industrial base, to gain experience and train their workforce to eventually move up the value chain like what China is doing.
Vietnam, Thailand, Indonesia, Laos, Malaysia and many African and Latin and Central American countries are enjoying economic booms. China has built many factories in these countries, creating good jobs for their citizens. Some of these countries have moved up to higher value manufacturing, like Malaysia, Thailand and Indonesia, and Mexico, Brazil, Saudi Arabia, Kuwait, UAE, and many African countries. Manfacturing jobs are a plenty in these countries with Chinese investments.
Only a few laggard countries with unproductive workers are complaining of unemployment in their dysfunctional economies. But never mind, they can send all their unemployed and hungry workers to Singapore. Malaysia, Thailand and Indonesia may not want them for good reasons. But the Middle East and the West can take them all in.
Singapore has no problem about unemployment. It has created millions of jobs for foreigners in the islands, especially when Singaporeans are giving up working, no more desire to want to be CEOs, managers, and full time jobs. Singaporeans are not complaining. They are very happy with gig or platform jobs, part time jobs, earning good money, freedom and be their own boss...and no stress.
Now, who is complaining about job opportunities, unemployment? China is exporting not only jobs, but factories to the Global South countries to create more jobs.
Boosting China's economy is going to be an extraordinarily difficult balancing act? Really? With a trade surplus of US$1 trillion, what is the problem? More than 90% of the economies of the world did not have a GDP of US$1 trillion. What does this say about China's economy?