Since ancient Mesopotamia the economic capital of the world tends to oscillate between West and East, because one civilization destroys itself while the other is rising from a prior economic collapse.

The Shift from West to the East
China Moving to Replace USA as Financial Capitol of World
Will China take over USA as the top Superpower

Sun Zejun wrote on Quora:

Q: Do you think the living standards of Russia are still better than China?

A: Well, I am a Chinese, from 2006 to 2016 I personally lived in Russia for almost 10 consecutive years. By the way, for me Russian is almost my native language. When I came to Moscow in 2006, everything was more expensive than in China, and the average wages of the locals were much higher. Russians saw Chinese people as from Africa or the 3rd world. Nowadays, 12 years passed, everything’s reversed, the average income of Chinese is generally more than Russian. The comprehensive living standards are much better, in which I am quite convinced in my own eyes.