At the start of 2025, western economists predicted "lost decades" for China due to structural problems like deflation, debt, and demographics.
China defied these expectations, hitting a record $1T trade surplus despite US tariffs. Even though Chinese exports to the US tumbling 19% due to trade wars, China successfully pivoted to other markets and internal innovation.
Western elites underestimated China's resilience due to ideological aversion.
https://www.bloomberg.com/opinion/articles/2025-12-23/repeat-after-me-never-ever-underestimate-china