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...and then the "colonies" figured out how to weaponize it and turn the balance in their favor.

Or, not quite: the workers are being exploited just like they were during the colonial period. But at least now their rulers have power over our rulers that they didn't have before. So they get to be happy about that as they make novelty items out of toxic plastic for Temu.

Modern China is a vastly better place to live than China of 60+ years ago. Many countries are nicer places to live, but 1+ Billion people are simply better off making the “exploitation” narrative ridiculous.
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Porque no los dos? Given the number of billionaires in China, it can both be true that workers are exploited, meaning they could earning more for less hours, and that the living conditions are better on average and possibly medianely than the local minima of 1966.