Exactly, and this process is already well underway. We shouldn't underestimate the timing and impact of the USMCA agreement to hasten the replacement of Chinese manufacturers in various supply chains through a resurgence in North American manufacturing.
China's recent woes appear almost biblical in scope. Within the span of a year, Chinese agriculture has been decimated by flood, drought and disease, and now its giant manufacturing centers have been shut down by a pandemic. Subsidies are little help when there is no activity to subsidize.
I have been considering an essay on that.
President Trump - The U.S.A. will no longer subsidize China.
The Pig pandemic, killing off most pigs in China.
The Coronavirus, killing off people in China.
You could write a book, similar to Exodus, about how China conspired with the Pope to persecute Christians in China...
And Chairman Xi had a dream, and God said: Stop persecuting my people!
But Chairman Xi hardened his heart...