So the world is basiscally destoryed as well because China is producing the majority of all the products that we use in our daily lifes?

I don't care if China controls most of the mining market, if people do care about that, they can purchase the mining power and start mining. The problems is that it is much cheaper to do in China, so I expect that mining will even be outsourced to China and other Asian countries to save costs.

China is unstoppable on a lot of things and will rise to become even bigger than it is now. Numbers alone are in their favor, with 5-6 times the amount of people living there.