What he isn't telling you (between 10:00 and 11:30) is why imports of raw materials have fallen. They have fallen because less of these raw materials will be required in order to produce less goods for exports to Europe and the US.
The Chinese see what's coming for the US and its vasal states in Europe - dire problems and downturn in their economies caused by America's proxy war in Ukraine and US's waste of billions of American taxpayer money for the Israel's war in Gaza and the West Bank. All this while American people are becoming poorer and poorer.
So, it seems that the Chinese are doing the right thing - they don't call the Chinese 'Jews of the Orient' for nothing. (meaning that the Chinese are as good in managing finances and trade as the Jews)
China is the 'world's factory', millions of Chinese are employed to manufacture goods and provide services. So if Europe and the US go down, so does China's exports (and employment) like it did 15-16 years ago. Chinese are very smart, I wouldn't worry too much about them. Worry about Americans and Europeans.
