China is still a country with significant room for industrial expansion with hundreds of millions of people moving from rural to urban areas adding to the manufacturing workforce, the country as a whole has not reached levels of prosperity that would produce a consumer driven economy, and one also needs to account for the heavy influence of export-led sectors on policy-making and the state-led economy which doesn't tend to lend itself well to consumer sectors.

And also quite importantly as China climbs up the value chain it will increasingly seek to outsource to cheaper countries, as it has already started doing in Pakistan, one of the major hubs of the Belt and Road initiative. And given the quite authoritarian system, it will probably do so quite effectively without facing the political backlash that workers in the United States have caused.