The PRC's working population peaks somewhere between right now and the next 5 years. By 2050, over 1/3 of their population is over 65 years old. They've been under replenishment birth rates for a long time. Their population pyramid is really, truly scary.
Their highly leveraged economy will not survive at "6%" growth over the next decade. It is not clear that they will escape the Middle Income Trap [1]. They are struggling with zombie companies and transitioning from manufacturing to a services-based economy. Their manufacturing is also being slowly eaten away by countries like Vietnam.
As the PRC maintains its legitimacy through the economic growth that has happened under its existence, a recession could trigger political upheaval or force the CCP to distract the populace, e.g. they might try to annex the ROC (Taiwan and its other holdings) by force. A military conflict in which a large number of one child families lose their sole child would have disastrous ramifications as far as government stability, too.
Given their focus on technology and modernization and massive investment in R&D and STEM education, it is likely that China will grow further still. China’s R&D investment is now at the top of the world about on par with the US. There are also a very high number of capable engineers in China as suggested by PISA results.
A key difference with middle income countries that only earn export income as manufacturing base is that there are quite a few Chinese companies that possess its own technology and brands. DJI, Oppo, Xiaomi are some examples. Many of these brands are not well known in the US but have become increasingly competitive with global brands, at least in some respect, in Asia and perhaps elsewhere.
It might make sense to compare them to Korean brands a while back, with an additional advantage of massive domestic market.
Their forward-looking focus on major industries of tomorrow like AI, EV, and biotech does not hurt either.
It’s all about trade. The USSR was brought down because they had no nations to trade with and refused to play ball with them and excluded them from the world diminishing their growth and power. The key difference this time around is Europe seems pretty complacent to let China keep doing its thing.
Their highly leveraged economy will not survive at "6%" growth over the next decade. It is not clear that they will escape the Middle Income Trap [1]. They are struggling with zombie companies and transitioning from manufacturing to a services-based economy. Their manufacturing is also being slowly eaten away by countries like Vietnam.
As the PRC maintains its legitimacy through the economic growth that has happened under its existence, a recession could trigger political upheaval or force the CCP to distract the populace, e.g. they might try to annex the ROC (Taiwan and its other holdings) by force. A military conflict in which a large number of one child families lose their sole child would have disastrous ramifications as far as government stability, too.
[1] https://en.wikipedia.org/wiki/Middle_income_trap
(No opinion on Saudi as I only follow the economy/demographics of the PRC and Eurozone countries)