It's not rich anymore. Xi squandered China's Western-built fortune on vanity projects and screwing over Western tech partners.Yep, scary monster.
China is a rich, large country looking to extend its footprint and power by means overt and covert.
Well, THAT's never happened before!
China can't even manufacture their own 7nm, or smaller, microchips.
All those high speed trains they built? Yeah, well since they fucked over Japan and Germany on the tech agreement China is unable to source or manufacture the wheels it needs to build more and maintain the current fleet it already has. Japan and Germany are the ONLY countries in the world capable of manufacturing wheels that are good enough for high speed rail.
Everything about China under Xi is fucking scammy. His BRI is just a debt trap for poor nations. They only ones it helps is China, leaving the target country in a position where it has to give up control of important infrastructure or land to China.
All the while it oppresses the fuck out of its own people, uses rape as a form of torture, engages in involuntary organ "donation" and has a province dedicated to slavery and genocide.
In Africa, Chinese businesses and companies don't hire locals, workers are shipped from China, live and work in appalling conditions and are treated as little more than wage slaves. Well at least their enslaving their own while in Africa so there's that, I guess.
There's two China's. There's the beautiful, happy, everyone gets along China that the CCP wants you to believe exists. Then there's the real China. They literally burn highly radioactive coal in at least one of their power plants.
When the dams are close to bursting at the seams they release a massive flood of water but don't tell downstream communities about it until AFTER they've been flooded by it.
If you want some insight into the real CCP's China, I recommend checking out 'China Observer' and 'China Uncensored' on Youtube.