Billionaires like Koch and economists fabricated libertarianism to do away with costs and pass on externalities to everyone else. It's a utopian ideology far polar opposite of Communism. What's sad is how many "smart" people fall for it because it assumes everyone plays nice and common infrastructure is cheap. It's a filter bubble warped reality that plays from an unconscious bias Upton Sinclair effect of favoring what's good for you is good for everyone or everything. I would wager every billionaire is implicitly and explicitly out-of-touch with the concerns, worries, and stresses of the homeless and working poor.

"If men were angels, no government would be necessary." - James Madison

Since jerks and clueless idiots exist in droves, government regulation is absolutely essential to police what (greedy) people can and cannot do.

Demonzing China isn't constructive and has the optics of racism. China isn't an imminent military threat to anyone outside the South China Sea and the border with India. The US is a far greater threat with hundreds of bases worldwide. China is a larger threat ecologically because of wanton water and air (including emissions) pollution through the manufacturing of domestic and export goods. China would be wise to tax carbon, regulate air/soil/water pollution, and/or cap/trade, even if it means driving nearly slave-wages carpetbagging corporations to Africa and other parts of Asia. Even if political interests prevent particular remediation solutions, China has the advantage that it can choose to deploy evidence-based solutions at scale ahead of economic interests in a self-serving, sustainment manner.