Back in the 1400s, China was among the world's richest and most advanced countries. But it became stagnant and cut itself off from the world under the Qing dynasty, which was followed by decades of revolution, civil war, famine and political oppression. That will destroy a lot of wealth. China has now discovered capitalism and is regaining wealth. Look at the two Koreas - since the civil war ended, South Korea has become one of the most advanced nations in the world, while the north cannot feed itself. Freedom and the rule of law create wealth.
The world economy is not a zero-sum game.