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A report by a former IMF official that completely ignores the indisputable fact that China is the only manufacturing and producer superpower in the world (not counting military production, where the USA is the undisputed leader), and instead compares the two economies on a financial services standard which favors the USA to begin with bc they're solely a financial/services driven economy at this point.
Look, I'm not a fan of a lot of what happens in China, but this is a shit comparison and projection.
I think that's a byproduct of trying to compare China to western style economies. China is pretty much the only modernized economy that didn't transition from industrialization to a services economy.
Having a trade surplus is usually fine, but if the capital from the surplus isn't invested in creating a healthier domestic market..... Things can stagnate pretty easily when something eventually disrupts labour demands.
China has spent the last 10 years attempting to kickstart their domestic market by heavily investing in their real estate market. I'm afraid they may have thrown a little too much gas on that fire, supplying more homes than demand.