China has now set itself very ambitious goals. They want to overtake the United States in the technology race.
Most of the technology products are now manufactured in China. However, this is not enough. The ultimate goal is to have the majority of the world's inventions made by Chinese engineers.
China's successes are enormous. They are leading the way in creating CBDC - the money of the new world. They control the bitcoin pools. Experiments are underway to create a new, fully digitalized society. China is a very ancient country with 5000 years of history.
China is not inclined towards democracy. However, he carefully copies all effective economic models.
You are very correct. In regard to the current challenge of China too - it excelled in copying the most effective economies and businesses and improving those, but still has to learn how to innovate internally.
Does that mean that the 3rd world war would happen before 2028??
China becoming the financial powerhouse will pose significant challenges among its neighbors and it is a great threat to global peace! China has shown its predatory and expansionist mentality quite a few times already. All of its smaller neighbors have faced such heat and some of them have given in to immense Chinese fire power! Only Japan and India have stood its ground against Chinese which has now become a major challenge for the global trade and peace!
I am sure US and EU will not let it happen! Even Australia is taking a stand against Chinese fire-power nowadays and hence Chinese government has stopped Coal import from Australia. Not less than 60 ships are waiting at an Anchorage point within South China Sea! India and Bangladesh have banned Chinese nationals to fly into their country. The matter will only grow worse! If this continues to happen, I am sure the world will see another world war soon!
I don't see WWIII happening - the thread to the entire humanity is too significant. However, I don't see how China's predatory and expansionist mentality is different from the one of US recently, and before that from UK and other EU-countries? Moreover, you probably do know that China did have democracy long time ago - it was tested, implemented and studied very well there. The result wasn't pleasant. And now we have the example of other failing democracies. Furthermore, you need to take into consideration the total population. With nearly 1.5bn. people each having all the tools for self-expression and hyping own ideas what will happen with the country?
Also as a side note, I lived in USA for several years, and in China as well. And I can personally assure you - you can come to China and you will see that you got waaaay more freedom there in terms of personal life, business, opportunities available and which you can take, what you can do, etc., etc. as compared to the U.S. Of course if you start posing thread to the security of society - you gonna get in deep troubles (same with US), but overall being a regular human - you will have much more freedom and safety.