That China is a threat is a pretty standard line. But not many people are paying attention to its problems. Beijing’s newfound assertiveness looks at first glance like the mark of growing power and ambition. But in fact it is nothing of the sort. China’s actions reflect profound unease among the country’s leaders, as they contend with their country’s first sustained economic slowdown in a generation and can discern no end in sight. China’s economic conditions have steadily worsened since the 2008 financial crisis. The country’s growth rate has fallen by half and is likely to plunge further in the years ahead, as debt, foreign protectionism, resource depletion, and rapid aging take their toll.