The international economy is already not free (never has been), so I fail to see how this changes much other than shifting and clarifying some governmental powers. The US has banned Huawei telecommunications equipment, is this all that different other than the fact that it is much more public facing?
What makes the Chinese government problematic is not protectionism or even the great firewall, it is the genocide, the policing of criticism from all sources, the authoritarian single party rule.