China has more immediate problem other than shortages. If China want to protect itself from the US blackmail, restructuring the economy from export oriented to domestic consumption is a must. Otherwise, China will always in a peril of being cut off from the US market. It is better to spend money on your own people, to improve their living standard, rather than earn those dollars and park it in the US treasury and let the Americans used those free money to consume while your own people are starving. Shortages today could be temporary, and it could also not affect China since China can always import from Russia unlike the west. Even if there is shortage, that just mean China need to fight with the rest of the world for the resources, and less spending won't get you those stuffs you need.