The “old model” isn’t working for Red China anymore because they are losing jobs to Southeast Asian countries like Vietnam, Laos, Burma/Myanmar, etc. (just as it no longer worked for us when we lost those jobs to Red China decades ago).
Not sure what they mean by the “old model” but he seems to have a good grasp that voluntary supply in response to demand is what drives wealth creation and economic expansion in the free market. That will never change.