You could say the same about every developed nation
"Developed nation" is a propaganda term designed to make you think that the overexploited nations of the world are on some mythical path that will lead them to a first world quality of life.
every western European country has already eliminated the worst kind of poverty and on average European citizens are better off than Chinese citizens
This is an apples-to-oranges comparison. Europe is the beneficiary of hundreds of years of imperialism and accumulation and the ongoing system of global unequal exchange, whereas China is a former victim of said imperialism that has pulled themselves out of the muck with their own workers' labor. China is better off compared to India, which achieved independence not long afterward but has fallen far behind in every single development index because of their failure to overthrow capital.
Brother 90% of the world's labor is done by 50% of the countries, and it aint fukken Europe that's doing the hard work to keep the global economy running.
And please point to any example of Chinese imperialism that has occurred in the last forty years. No, offering loans with better terms than what the IMF offers to African countries does not count.