1.06 births per woman is going to lead to a population collapse, and I don’t think China is attractive enough to immigrants to make up for the gap.
The developed world would be having similar challenges, broadly, but have higher birth rates, generally, and much higher immigration.
It will be interesting to see how this plays out, but I think fears of a Chinese-led hegemony replacing the current US-centred regime is becoming increasingly unlikely.
Edit: I was curious, so I looked it up, and it’s even worse than I thought:
The net migration rate for China in 2021 was -0.252 per 1000 population
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