IMO... warning, lengthy post.
Back during the last major US auto bailouts a statement that should have gotten more attention than it did talked about Chinese demand... although surges in African and South American demand might not be seen for decades (that's another story)... The exec basically stated that US manufacturers (in this case autos) were a significant boon to US GDP, based on the potential of the skyrocketing Chinese economy. In the US and other (economically) established countries the market for things like cars was already saturated. In China the majority of the country did not have cars, but were soon able to afford them. Therefore this was a high priority market which a strong foothold would be important... IIRC, GM and Wrigley gum had grandfathered in some business rights in China that other US companies did not have. Since then we've seen businesses fall over backwards to enter the Chinese market, although many started seeing the problem with the 51% required ownership of Chinese Nationals to enter that market. Additionally, Chinese governmental allowances for certain types of manufacturing qualifying for a 15% income tax rate further complicates returning that $$$ to the US (repatriation)... although historically it was Hong Kong that had the low income taxes.
Similarly, copper and steel have been gobbled up by China for the last few years, although I think it was more related to the governmental push for the now coined "ghost cities" rather than true free-market demand within the country. China increased production because of it's own needs. Recent US news articles have stated that China has become the largets market for electric vehicles, surpassing EU countries. Therefore, I think many of the newer styles, designs, and functions in some of the newer electric car offerings might not be fully understood or appreciated by Western standards.
Considering the production of Li and Li rechargeables in country, I think it more likely that we see a price increase as flashlight enthusiasts. It would be in China's best interest to boost production for both internal consumption as well as export. After all, significant increases in money supply can happen when foreigners throw their money at a country or city, sort of like why European cities spend so much on maintenance of their historic buildings (tourist $$$), or why local cities lend moeny to sports teams to build arenas. Here's a link to Li production by country:
https://www.nsenergybusiness.com/features/top-lithium-producing-countries/
Political conflict between Australia and China might have been a temporary reprieve from the price increases we might have already been seeing. Additionally, this might fuel R&D for either increasing older battery tech, or alternative chemistries (among alternative energy storage media). Anyone interested in a biodiesel flashlight?