Foreign companies report gloom in sales in China which translate to Chyna Collapse in the wester social/media. Maybe reality is that Chinese consumers are dumping foreign brands at a increasing rate. Paraphrase from the video "Chinese won't automatically buy a brand because it is western anymore" and "Chinese youth favor local brands."
There is really no secret to some of these huge American brands that the Chinese can't replicate and potential take overseas tweaked. Chinese localized McDonalds and KFC is already reportely much better than it's US version. They grew on overwhelming us softpower "marketing" and probably us financial/military power over countries.
If there is doom/gloom related to western brands' weak performance in China, what do they say when the Chinese brands are reaching the West?
There is a mall in Toronto that now has a Chinese section with local and mainland-China (and Taiwan) based brands (Cotti coffee, Miniso). It is a traditional mall (i.e has an H&M, Sephora, etc.) rather than an "Asian mall", and not in a majority Asian area (though I would say the demographics of Asians has definitely increased significantly).
Younger people in western countries are more open to Chinese brands (Shein, TikTok, Temu). They don't have the cold war "commie" mental baggage, Tiananmen baggage, "only crap is made in China"-mentality (rather just *everything* is made in China, crap or otherwise).