so that's why US owes 29 trillion dollars to China, because of their great economic system 
A big part is low wage or slave (as in Uyghur) labor. Seen it first hand myself.
I did a tour of solar cell factories in 2015 as part of a sales trip in China. What I saw blew my mind. Open sewers, tech buildings with no central heat, restaurants with no doors and people bundled up trying to eat in 30 degree weather. And on and on.
The typical Chinese business operates with no profit margin built in- as in no profit over and above manufacturing expenses. That leaves zero dollars to budget for any product development and that is why they rampantly copy everything and violate international patents all the time. They copied one of mine and I went to the US State Department and was told that they couldn't do anything about it.
The Chinese manufacturing system works on low cost knockoffs, many times at the expense of product integrity. They copy things that are supposed to made of a particular steel or other alloy, and after they make the samples, they substitute lower grade materials. I had this happen with a large lot of electrical cables- the parts literally broke apart in my hand.
The US government is complicit in the shift to Chinese goods. They an only compete on price, not quality, and the US aids this by not tariffing their goods. But when my company sells a product into China, the Chinese government automatically slaps on a 27% surcharge! Hence, the flow of goods is a one way path from China to the US. THAT is how you get a massive trade deficit- it is built in by law.
There is a lot more involved in all this, but it sure as Hell isn't the genius capitalism of China at play. Anyone who believes that is sadly misinformed.
