Meanwhile PRC imports oil primarily for transport that can be electrified. They produce 5mbd domestically, which covers industrial use (petchem), which can also be derived from coal, discount RU/VZ/IR oil simply cheaper. Ironically if oil prices rise past $80 PRC coal to olefin becomes profitable, that's a PRC unique techstack, it only makes their industry more competitive vs others.
25% youth unemployment is western cope stat - broad PRC unemployment is like 6%, i.e. youth find jobs, PRC youth simply gets to fuckarounditis at home until they decide enter workforce later because high home ownership and household savings rate - something US youths with student loans and paycheck to paycheck culture can't do.
> cutting edge tech ... have done something
It's just boring anti stealth / anti air tech where science is reasonably well understood. Which cannot be provided to VZ/IR vs US overmatch. But what can be done is preposition them for intel gathering vs US, i.e. PRC stealth radars likely gather telemetry on US stealth / order of battle / EW even if VZ/IR cannot integrate them into shooters effectively vs US air. Doing something including passive collection on US using premier assets in real scenario. If anything like past CENTCOM drama, there's PRC Type 815A's chilling in CENTCOM right now hoovering up intelligence.
> effective against the US or is it not?
It likely is in volumes that negate US overmatch. There's a reason US/IL is trying to strangle IR's shit tier missile complex now - 12 days war and houthis have shown even garbage IR hardware is enough to simply overwhelm US+IL+co through densest ABM defense in the world, after PRC eastern theatre command. Everything we're seeing last couple years has basically validated PRC model once extrapolate scale to natural conclusions. Consider US vacated most of CENTCOM to avoid IR counter fire. PRC has magnitude more highend missiles, million+ drones, loitering munition for 1/2IC, is US going to bail Okinawa/Yokosuka/Busan etc vs PRC with more fires than US has produced interceptors, ever, how are US going defend 1IC security obligations if IR penetrating MENA with crippled/puny missile complex.
>effective against the US or is it not
As what was seen, see PRC tandem AShM tests a few years ago where they coordinated hypersonics launched from different sites to strike moving target at see, i.e. something US hasn't even demonstrated. What we see is US overmatch still effective against adversaries dramatically smaller with generations old hardware (because of course it is) but even those hardware, at limited scale is forcing US to adopt postures that would basically lead to defeat in westpac scenario. The fact that US has to preposition 1/3 of active fleet and airforce hardware for WEEKS vs minor adversaries fraction PRC size and fraction PRC tech/industrial output suggest US simply not capable of dealing PRC scale/tier adversary, that's without considering munition stockpile etc.
What people should think about is not how much US can stomp lighweight adversaries, but how much % of US force has to be committed to doing so.