Cheap Chinese exports are in no way helping the mankind. This is altogether ruining industries of several country and making them dependent on China. This dependency on an authoritarian regime is pushing the world towards a situation where China is in a position to use the dependency as a weapon against other nations.
The current situation and the corona virus pandemic has exposed the vulnerability of the economies. Chinese regime has proved they will not ever think of using the dependency as weapon for economic gains.
China has been using malpractices to ensure their products are cheap and this is causing industries in any countries to collapse. This gives Chinese company to manufacture products in scale which actually reduces the production cost further and thus they recover the past losses. China has a national strategy for dumping of goods. This strategy is aimed at destroying the competition and provide goods at a rate lower than locally available or even below the cost of manufacturing. To stop such malpractices, countries levies anti dumping duty to ensure the local markets remains competitive but Chinese regime even defies that in several cases by Chinese government paying such duties to the companies expoting out of China.
Thus the secret of cheaper prices for Chinese products is complex and is a part of their centralized national strategy to raise China to a status of Superpower of 21st Century.