I have no insight in the Chinese government or the financial markets. Sorry.
What I do know, however, is that people have been predicting a financial crash of one form or another in China for decades. Never happened.
Unlike the United States which (sort of) directs and manipulates markets and tries to regulate through central control via banks, the Chinese operate differently. They build up relationships with key individuals. They think in terms of “systems thinking”. They create networks and when situations change, the individual network nodes move to adjust.
It’s a new ballgame. While American and Western financial experts are following 1970’s models of global finance, China has adopted a completely different model.
I cannot tell you that it will be successful or not. What I can tell you is that it and the way it operates is completely alien to anyone in the West. So expect to be disappointed in any newsworthy predictions.
That model is called Mercantilism and it is from the 16th century. China's command economy and its Belt and Road mercantilist bullying of its neighbors is a model that has been a failure for centuries.
Not to mention they have a national debt of 300% of their GDP. That is if you believe they are a $9 trillion economy. Which they most likely are somewhere around 50-60% that size.
The tariffs are only one small aspect of how Trump is tackling China. China's neighbors hate them. He has successfully marginalized their influence in North Korea. Rebuilding the US military. There are other ways to hamstring China and all are being employed.
Iran was a major source of China's energy imports.
“While American and Western financial experts are following 1970’s models of global finance, China has adopted a completely different model.”
...printing money.
China’s ghost cities are metaphor for their fake economy.