They did lots of reckless funding moves to get where they are now that will fuck them eventually. But that doesn't change the fact that the USA can't build a microwave oven let alone a F35 with out some part of the supply chain going though Chan. The world locking out Russia's raw material exports just cemented that fact forever.
My schizo theory is China is going to start making bold moves to grow CIPS and make the petroyuan a real thing. Getting the Yuan to reserve currency status so they can mimic the US Fed and just print their way out of trouble.
I'll take my big red X on this but I think it is their long term goal and plan to fix the bubble.
For a few years now, China has been visibly mobilizing their stand-off capability with the US and making threats over Taiwan to try and muscle together a new second world and US concessions. If that sounds childish, it really isn't, the Chinese have a dire need to be seen as a military competitor to the US if it wants to swallow Southeast Asia into a NATO-like alliance before the Quad becomes the Quint and so on, while simultaneously pushing its territorial claims. If it is not viewed as a competitor, China can only achieve one or the other.
Now that the West's version of asymmetrical warfare is proven to be both resilient and effective, and therefore it doesn't even matter if China could compete militarily (still can't), China would probably be right to take a step back and brace through their imminent economic issues.
Deng made a shitload of good calls
(ironically keeping the one-child policy was one of his few big mistakes) and Xi has to eat his ego and admit he was wrong about nearly everything if he wants the best outcome. A return to Chinese "panda politics" and foreign investor safety would go a long way to sliding a petroyuan and an, ahem,
diplomatic annexation of Taiwan under the NWO's nose.
Just because that's the obvious correct answer, don't expect anyone to take it, in case recent events hasn't made that clear enough... China has deliberately fostered a complex about disrespect and China's rightful place in the world in their youth, that will guide their politics until this generation leaves the military, or until these views are shocked right out of them, Japan-style.
It's been hilarious watching this slapfight play out because it proves how short some memories are. There was a similar debate over the tank's efficacy during Afghanistan and Iraq, especially among the minor NATO members. Why pay for something that expensive and complex if it can be beaten by infantry? Why bother sending it half a world away when IFVs or faux-TDs like the STRYKER or Zhalo can do everything it does? Funny how that debate turned out, especially in Canada's case when the Canadian Army went from scrapping its entire MBT fleet to upgrading it to Leopard 2s.
The tank isn't going anywhere, the level of protection, mobility and firepower it provides are too important for any military to pass up. While the Javelin and other weapons beat most countermeasures (that we know of), it won't last; just like the advent of ERA and composite armour to deal with HEAT something else will come along which nullifies current anti-tank systems and begins the arms race all over again.
To be fair to Russian armor, the Kremlin made the blindingly obvious mistake of invading Ukraine in the middle of their thaw. Combined with some clever abuse of dams and locks near Kyiv to flood nearly the entire stretch between the city and Chernobyl, and heavy equipment can't really get anywhere without sucking up three feet of mud. Ukraine is not representative of what every post-MANPADS war will look like, or even most.
It is also the case that Coalition doctrine on armor is now
provably radically superior to Russian doctrine because it includes infantry screening if you don't have air cover, while Russian guardsmen seem terrified to so much as leave their APCs. Between better terrain, air superiority, and better doctrine, it's not clear that Coalition forces would hurt that much more in either Iraq war even if the Iraqi troops had MANPADS.
The scenario these weapons would do the most damage in, against a competent military, would be long after the fighting. Eventually the doctrines, the air superiority, and the readiness all fall away- during the occupation.
Russia, in this war, hasn't even gotten to the stage where Javelins and RPGs start popping out of windows, which absolutely would happen, because Ukraine has no doubt already hidden stockpiles of various anti-armor weaponry around the country. There are decent odds that farmers will be finding these weapons in unmarked boxes for decades to come.