GDP is not everything. Check up on BRI. Also, Chinese and the "private" Chinese corps are not really separate. Their goals align and they think long term. Things Chinese business do serve CCP. Look at the logistics of how oil travels the world. Look at the infrastructure they have been building throughout the world. The have countries take on debt so that they can build roads and rails they own. China has also developed short range missiles to get past the ICMB rules. Combine these actions and it's clear what's going on. They win, we lose.
American "wealth" is mostly an illusion. And China can just wait. They won't have to do anything.
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