The biggest myth is that China plays the long game and "think in terms of centuries". Just to name a few recent counter-examples: the disastrous one-child policy, abrupt ending of COVID-zero, and the crack-down on tech firms.
When I was reporting for 60 Minutes in China, I was told by people I met that they regard America as inferior, specifically because they say the U.S. does not understand how to play the long game. They said with disdain: “We think in terms of centuries - Americans can only think in terms of minutes.”