Cite a reason why you'd think it's dumb. Denying that China has so far been very successful is a fallacy. Compare China to India, China was behind. Now it has leapfrogged ahead.

It is yet to be seen if China can reach the developed country status, which would require dethroning the dollar as the world reserve currency. However, just because China has been successful in the past doesn't mean it will be able to achieve this feat.