China can only do this because China offers the best prices for manufactured goods it exports and for the commodities it imports. China today operates a growing trade surplus above one trillion USD annually. Just like once the USA did...but USA has now had 50 years of chronic trade (and fiscal) deficits.

Thus today nearly all nations have a trade deficit with China and must fund it somehow. Now China is the global leader in infrastructure construction - Chinese engineers are building the infrastructure developing nations need from the oilfeilds of Iraq to the ports and railways of Latin America, Asia and Africa. China is even constructing the first new nuclear power station to be built in the once Great Britain.

Trade and engineering build Chinas economic power and trade war victory. USAs legacy advantage declines as its financialised economy is incapable of building real world goods and assets. China has beaten the west at its own game- capitalism- by combining astute government strategy and capital allocation with the power and wealth creation potential of private enterprise. With every empire in history it has been the same.

The wealth of nations is built upon the combined quality and force of government and private enterprise.