The US is talking about starting a war, had government shutdown issues recently, and has a president that is abrasive on foreign affairs. UK is dealing with brexit.
China may have the issue with HK recently, but to an outsider, they look more stable. Of course, something like Japan or Australia seems better, but China isn't a terrible choice.
It's now a dictatorship, with a single man ruling for life. The history of dictatorships shows, for fundamental reasons, stability in the short term and chaos in the medium.
(The fundamental reasons include not being able to back away from bad decisions, eliminating competent rivals, and as a result bumbling into crises that seem to escalate themselves.)
Even the US was very undemocratic for most of its history (remember when only white male landowners could vote?), and that didn’t stop its ascendancy to world superpower.
New leadership in a dictatorship often means a quiet realignment at the top. China tends to use the corruption excuse, but look at the upper leadership after such transitions and you find many new faces.
This is a cartoon take on China. Yes, China is led by a fairly Leninist party structure in nominal terms, but in terms of management China is relatively decentralised. Politically but in particular fiscally regional and local authorities manage day-to-day operations with significant leeway depending on the region, anything else would be unfeasible in a country with 1.4 billion people.
The bureaucratic nature of the Chinese state (which is really thousands of years old) makes comparisons to Western strongman dictatorships impossible. There's a reason the communist state has survived Mao, market reforms under Deng and now Xi, and it's not because it's run by some big brother figure who gets assassinated and then everything collapses.
China's party structure was fine and decidedly non-dictatorial. Deng was not a dictator and neither was Hu Jintao. They did not, like Xi has, ensconce themselves as leaders for life [1].
[1] https://www.theguardian.com/world/2018/feb/26/xi-jinping-chi...
China was certainly much more dictatorial than any Western country before this change, and it isn't much more dictatorial now. Xi's extension of time in office isn't really related to governance as much as it is related to the problem of succession. With significant amounts of the old guard finally reaching retirement age, there is a fear of political instability in the party.
And the way he has done that is by imprisoning and killing competitors to his power. The fact that he could even contemplate bringing the term limit up indicated that he was certain at that point that there was no one to compete with him within the party, who would protest the term limits removal.