I don't believe this is unique in China's history. Their economic power was certainly world class in previous times. They were a manufacturing powerhouse and held monopoly over many goods in a global trade network. Not only that, China had more power projection in the past. They had direct influence in current day Afghanistan and Central Asia until they lost at the battle of Talas River. As well as having tributary states in Japan and Korea. Currently, the US and allies surrounds China in such a way that they don't have the same influence.