I am not a fan of Xi or the CCP tactics, but I think this seems a little bias and self-serving.
For example, not many in the world have ended up where they expect over the last 5 years, though the CCP Covid response, economic mismanagement in its real estate sector, political interference in its tech sector, and aspects of is trade war tactics (not just USA but also with the likes of Australia) has certainly not helped it, comparatively speaking.
The globally interdependent chip manufacturing production stack is complex, and not just for China, nobody really has fully independent capacity, something not made clear, yet clearly evident with global chip shortages and escalating costs.
China’s growing independence in space, navy and political influence have been on the rise, and has forced the US to up its diplomatic game, particularly in Asia and the Pacific. China managing to vote down discussion of the recent UN human rights report is a concerning sign as to the somewhat waning Western diplomatic influence.