Like any country, China has lots of strategic challenges, not least of which are a rapidly aging population (and- critically - it is happening before they become a rich GDP per capita country like Japan and South Korea), poor political system, shaky financial system, and a real tail risk re invading Taiwan.
On the other hand, they remain at the forefront of manufacturing and are making the expected transition from low cost producer to an innovator with their own global brands, massive domestic market, and improving terms of trade with Russia as a de facto client state to supply raw materials.
The biggest short term question is whether the US will continue to dismantle the global alliance and trade system of which it has been the center of since WW2.