The evolution of this China-friendly narrative is not entirely natural or innocent.
Neither is the evolution of the Sinophobic narrative. Always there are those with something to gain from the presence of an enemy. If there isn't one, they'll make one.

There is also the blinding dazzle of China's extreme success: if they can deliver so much, so quickly and so well, they must be doing it right.....
Somebody's not looking at a large part of the picture. The reference above to the non-performing loan stock held by Chinese banks is but the tip of the iceberg. They're not "doing it right" (nobody ever does), and that will in time come back at them.