All that might be true for consumer products, but it’s absolutely not true for weapons systems and cutting edge technologies. Their J-20 fighter jet has a cost between 30-120 million, whereas the F-35 costs 78 million. It’s also worth mentioning that the high speed rail in China only exists because of strict control over airways making trains artificially competitive. Despite this state rail system holds 850B in debt alone (with some numbers I’ve seen online indicating a total system debt of 1.8 trillion), and is losing money daily. Regardless of the rumored numbers, a debt level that high indicates that they have to pay near-western prices for advanced technology. Tanks, jets and high speed rail are considerably more challenging to produce cheaply than sandwiches or obsolete smart phones.

[1] https://amp.scmp.com/economy/china-economy/article/3127644/c...