Recently, Western media and scholars have hyped up "China Shock 2.0" again. They portray China's advanced manufacturing strength in EVs, lithium batteries, and solar as a new round of pressure on the global market.

This narrative is nothing new. It's just an old script with a new cover.

U.S. economist David Autor points out that Chinese imports account for only a small part of U.S. manufacturing job losses. Automation and technological progress are the main culprits.

Kristalina Georgieva, managing director of the IMF, said Europe's real shortcomings are fragmented regulations and the exodus of innovative companies.

Instead of hyping "China Shock 2.0," Western countries should face the competition and embrace innovation.