** China must have courage to initially cut its dependence on low end goods& services exports.
** Use its foreign reserves to expand domestic employment insurance and import more low end goods& services.
** Do it now and there is no need to wait for high end goods& services export to catch up
There is no way for the export manufacture owners to stop producing as long as the profit is not thinner than air. In the chronic poisoning of employment and local government debts, the central government should function as a waker to interrupt the sleeping. Otherwise, it will take long time for the domestic demand to take over overseas' and for the capital to be invested in high end products.
The courage for China to initially cut its current dependence on low end goods& services is based on its huge but hot foreign reserves, which can be sufficient to support a large scale of employment insurance for non-urban workers and import equivalent goods.
What determines the economic power is not the entire amount of goods made but its high end part. This is why Huawei or TikTok are so scary.
And it may have no time for China to gradually hatch its high end product while increasingly getting dependent on its low end exports.