Take a ride on the "Wild Side"
I always love it when somebody makes a Dr. Strangelove reference.
China is no exception to this, however due to it's large population and potential for growth, it is inevitable that China will surpass the United States and keep growing until an equilibrium is reached. It is simple market dynamics.
Potential actually means very little. And it must be remembered that most of the growth of China is not internal, it's external.
In other words, it is not the Chinese Goods that are actually making the demand.
First you have simple price. Because it is an internal economy, they are able to keep the prices of their export goods affordable, mostly due to low labor cost. There is nothing "superior" about the goods, they are simply cheaper. A crib or Ladder or Shirt "Made in China" is not superior to one made in Japan, USA, or anywhere else. It is only it's cost that makes it appealing to most buyers.
Then secondly you have the original product itself. When it comes to "High Tech", China is actually sadly far behind most of the rest of the world when it comes to domestic designs. Instead, they use their cost to appeal to foreign designers to have the final products built there. But they do not actually design those products, they build them on contract for others.
Simply compare a Chinese designed cell phone or tablet to that designed in the US or Europe. Sure, both may be built in the exact same factory, but it quickly becomes obvious which is superior. I actually have 2 different tablets, both designed in 2012. And they could not be further apart in quality and performance.
One is a Google-Asus Nexus 7. A bit older now, but it can still do anything I need of it. I upgrade the Android OS every couple of months, and can watch high def movies, play the latest games from the Android Store, and use it almost every day. Standard micro-USB charging means I can charge it anywhere from an industry standard cable. I can even hook it up to my TV and watch movies on it, or stream through a Chromecast or Wi-Fi network to and from another device.
The other is a Chinese made and designed ePad. It is roughly the same size, but half the screen resolution of my Nexus and 50% more weight. Wi-Fi supports data connection, but I have never been able to get it to send data to and from other devices with a level of ease that a layman could use. Forget watching movies, screen freezes because the CPU can not keep up with the bandwidth, and it looks blocky and horrible even if playing short clips. And I have never been able to update the OS, it uses a customized version of Android that is not compatible with the newer ones (I did try manual updates a few times, always had to factory reset afterwards). It also will not even access the Android Store, and have never been able to get any app not built into it to work. Finally the non-standard power charging system means I have to carry the brick everywhere I go. Needless to say, this went immediately into my "junk drawer" and I have not touched it in years.
And this is sadly typical of "Chinese High Tech". They make things for other companies, and their own designed products sit in the discount bins. How many people when they want a new cell phone consider the Xiaomi? Or the Oppo? Or the Meizu? Or even the Lenovo? To be honest, nobody tha tI know of. They want the Apple, Samsung, or the Motorola. There are still some that want the RIM, and even Nokia is making inroads once again. But the Chinese designed phones are always going to be "bargain basement" unless they can somehow figure out how to improve their designs and actually innovate, not simply copy what other companies have done years ago.
And I am willing to bet dollars to doughnuts that if their internal stability falters again as it did in 1989, there would be a huge exodus of companies from China, returning it to an economic backwater all over again.
Interestingly enough, the real innovator nation in that region is Taiwan. Or as I call it, "The other China". One thing that can be said for the ROC, they know how to design some quality goods.