This is becoming a global trend. Countries have started to believe they are not benefiting from a global economy as much as they were told it would. The upcoming decades, you'll see countries closing their doors and choosing "local first". England and USA have started the process, and yes, the Chinese model of "we copy working businesses and prevent international businesses from succeeding on our land" (think FB, Uber and the likes) works well for China (ie WeChat, AliBaba, Tencent etc..)
Is this going to work? I personally think the answer lies somewhere in-between a fully-global economy and a closed one. Time will tell.
What do you think?