>That is GDP per capita, there are multiple ways China fakes GDP.
So does every other major market player - after all it is arguably a primary index in the economy. Most of GDP of developed countries come from "intellectual property" and things like digital services, financial instruments, and so on and so forth, where people profit while not producing anything useful at all. I'm not saying that it is somewhat reprehensible in general, but you have to agree that primary problem comes from the debt - which itself is the virtualization of economy.
Modern economy troubles come from general inability to develop trade and production anywhere further - it requires rich people to risk and sacrifice something to invest into the opportunities never considered before. You need to search for alternatives, take a different views, consider other points of interest, including developing countries, too. But rich people don't want any alternatives, they don't want want to lose anything and don't want anyone to step in their place, so they do polar opposite. They oppress, sanction, threaten and falsifying - they are digging their own grave with their own hands.
Lifting sanctions in some selective manner, trying to close itself from the problems of the world, or trying to give corporations even more power isn't going to fix anything of that. Soon enough you will discover that everything you know is fictional, and the economy is operated by irrelevant values, and you are living a virtual life without any purpose. And that is going to be the end of it.
I don't know what happened to your world since 30 years ago. I'm an avid fan of 80-s cyberpunk that isn't too popular where I live because of some things like language barrier, values dissonance, etc. But I don't understand where all this innovative spirit is gone since then, replaced by all this brooding of possible futures that will happen because of some liberal market magic. I don't feel it anywhere any more.