China’s doing an incredible job of rising from the ashes. But the Law of Unintended Consequences has a way of keeping countries in check. Japan learned that in the 90s, and the US and Europe are in the process of learning it again big time. China has ghost cities, and heavy municipal debt. Possibly a real estate bubble, and over reliance on manufacturing and exports. These will be vulnerabilities until they solve them. They also have an enormous demographic problem. Most couples have one child, the population is aging rapidly, and immigration is practically non-existent. There’s also internal threats like Islamic/Tibetan terrorism, civil disobedience/revolution. They have a lot to keep under control.