It remains to be seen if china is in true decline. The situation is radically different that the breakup of the USSR where the majority of the capital goods were simply inadequate. That is not even slightly true in China's case.
What China needs is a period of capital consolidation and rationalization. This can eliminate obvious inefficiencies at long last and establish a pattern of internal growth. This will lead to an economically stronger China able to handle the demographic changes now looming.
This will be experienced as a sharp increase in productivity and rising wages over the next generation. It also calls for a reformation of the country's political life at least...
Behind Obama’s Meeting With Xi Jinping Is a China in Decline