There's 2 errors in your assessment. Otherwise, I pretty much agree.

1. Their problem isn't inflation, but deflation. As their output is greater than their domestic and international consumption. This leads to lower profit margins. It's a huge problem, just not in the direction your implying.

https://www.bloomberg.com/news/articles/2023-12-27/china-s-industrial-profits-rise-though-deflation-concerns-linger

2. The brain drain is in the thousands per month leading to tens of thousands a year. It's not good, but no where as bad as your implying.

https://www.bloomberg.com/news/articles/2023-12-27/china-s-industrial-profits-rise-though-deflation-concerns-linger

So, while yes I agree with you that China's economy is in bad shape. Those 2 data points are incorrect.