There will be nothing to buy from the West, for which you will not get a better deal in China.
While I agree with much that you write, I disagree with this.
China is still mostly known for cheap, unreliable crap. Maybe they can make better things (excluding the ones that they simply copied 100%, factory and all, from western companies) but they don't export them. There's plenty of garbage coming out of China, while things "made in Germany" and western brands in general still have a much better reputation.
Getting to the industrial revolution first gave the West the upper hand, but we have now sacrificed that to the altar of comfortably retiring a few assholes from DC, and retiring insanely rich a few assholes from Wall Street.
late-stage capitalism.
Communism self-destructed in the end. I fear capitalism will do the same. And if the fall of Communism teaches us one thing then it is that it can all go really, really fast.