Yes, exports is China’s last lifeline for now. It’s economy has been highly dependent on foreign markets, and this might continue as an analysis based on newly released data by China’s Statistics Office, but the researchers look a bit closer. They conclude that China’s “New” Strategic Industries Will Not Produce 5% GDP Growth – (here is an archived link):

• China’s high-technology industries will not generate investment sufficient to power 5% GDP growth in the years ahead
• The reason is that the country’s technology sector is too small relative to the property and infrastructure investment that are in sharp decline
• China will become even more dependent upon gaining market share in export markets, in both new and traditional industries
• China’s past economic performance has clearly been overstated, particularly since the decline of the property sector starting in 2022

It’s time for the Europe, Canada, Australia et al to diversify away a bit faster from Chinese supply chains and their ChEaP pRoDuCtS mAdE bY sLaVe LaBoUr. These diversification is already under way, and the long-term outlook isn’t too good for China as domestic markets are down, consumer confidence is sharply down since the start of the pandemic.