By every measure I'm aware of the Chinese Economy in 2023 is failing. FDI is down 90% YoY, Imports and Exports are down YoY, Youth Unemployment is unbelievably high, Real Estate market is collapsing, inbound tourism is down 90%, and companies are moving their manufacturing facilities out of the country.

The Pandemic surely had some to do with all of that but I'd point at the escalating Trade War with the "The West" as the primary cause. A Trade War that was specifically engineered to damage the Chinese Economy.