As more is produced in China, the yuan must inflate. And as less product (relative to other side of imbalance) is actually produced in the USA, the dollar must deflate. Arbitrary controls of currencies in the meantime will only make tomorrow more difficult for China exporters and USA importers. Balance must follow heavy international trade. Fuel costs for overseas freight must also continue to rise (despite over-relegation of cost to other diesel consumers), given rapidly increasing consumption in some large countries (without which increasing consumption in China and India, nationwide rebellions would eventually occur).
It is less about production rates than it is about manipulations of currency and labor markets and policies. The Chinese state is siphoning off what would be the natural growth in these markets to artificially control profits and cash flows. It is in effect operating as a cartel. It is only a matter of time before the rest o the world gets sick of it.