Yes, it's true that it's one of the oldest civilizations. As for why its war-winning rate is low has something to do with a lot of factors combined. Their beliefs, their wisdom, their stubbornness, their knowledge of the outside world, etc. In the 80s' or so, the chance of Chinese folks in China seeing foreigners is almost zero, so when it comes to science, China at that time was like a beginner. It also has something to do with its monarch. This is a communist country, people don't really have much freedom in society. Its curruption in ancient times has also made a lot of confucianists and wise men perished for bad.... bla bla bla, ultimately, everything has something to do with humans' desire itself...