Right now the leadership in China is terrified! They've been able to get away with a lot, basically using their economic power to get other countries to look the other way with regards to their behavior (suppressing their people, stealing IP, bullying smaller nations). but the moment they got called on it and people started moving their operations to other countries (previously considered "impossible"), they saw the economic impact. And they realized that they can't get away with what they're doing if they aren't providing their citizens with a constantly growing economy, their citizens are going to start getting angry again.

It's clear now much of the Chinese leadership were a paper tiger and now that the heat is on, they don't really have a strategy. They just never expect enough people to call them out publicly and embarass them. Maybe they'll keep hold of their own country by suppressing information flow, countrywide surveillance, but whatever power they had over the global economy: severely diminished.