Why do China's economy and 500 million Chinese matter so much in Geopolitics?

Beijing faces many doomsday economic, ideological, institutional, diplomatic, and political crises, of which a financial crisis is the most debilitating. From currency devaluation, high unemployment, and high debt to a vulnerable banking system and sluggish domestic consumption, China's economy is like a terminally ill patient suffering from severe chronic conditions and an onslaught of acute diseases. For Xi Jinping, the struggling Chinese economy is the source of many problems threatening social stability and the CCP's legitimacy. For the outside world, China's economy may be the biggest geopolitical time bomb.  

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References:
https://www.gov.cn/zhengce/2022-03/22/content_5680376.htm
https://www.ndrc.gov.cn/fgsj/tjsj/jjsjgl1/202301/t20230131_1348088.html#:~:text=2022%E5%B9%B4%E6%9C%AB%EF%BC%8C%E5%85%A8%E5%9B%BD%E4%BA%BA%E5%8F%A3%E4%B8%BA,%E5%B9%B4%E5%A2%9E%E5%8A%A027%E4%B8%87%E4%BA%BA%E3%80%82
https://cj.sina.com.cn/article/detail/1010236564/275893
http://www.moe.gov.cn/fbh/live/2023/55167/mtbd/202303/t20230324_1052473.html?ivk_sa=1023197a

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