China is absolutely no longer a third world country.
They are able to conduct space exploration, build nuclear power stations and warheads, makes military and commercial jets, export cars, electronics and machine tools to the rest of the world.
Quality of some items is still catching up with the best of the advanced developed economies - in many areas Chnia is now the world "go to source".
The capacity of the leadership to enforce policies is the reason for the huge growth rates over the last 2-3 decades. They have a clear strategy for world leadership - if not domination. It would be both complacent and naive to ignore or trivialise the threat.
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