Czechoslovakia had the advantage of being a small country next to the EU.
China had the disadvantage of being the most populous country in the world.
In crisis, economic or otherwise, Czechoslovakia is much more likely and capable of being rescued by the international community. China will need to rely on itself if only because it is way too big for any kind of help to be substantial and meaningful.
Thus the outcome will likely be even worse than Russia, which only has around 1/10th the population of China and an impressive natural resource reserve.
I don't know, I was born in Czechoslovakia.