Re: Peak China?
Yes. This.
The West have been asleep at the wheel for 20 years concerning this economic warfare. It's destroyed millions of jobs and everything has been outsourced to China for a small saving.
The speed with which China can now out compete anyone trying to manufacture in the rest of the world is startling. Look at the "hoverboard" debacle - they stole the IP, started making them in an lcd monitor factory which switched production to hoverboards in *2 weeks*, swamped the market, and by the time the inventor's company got a court date, the now massive Chinese factory simply bought his American company to make the lawsuit go away!
Meanwhile, I can't get a metal part (brass/nickel) plated in the UK for less than the cost of manufacture and finishing and shipping and import duties, via China!
The Chinese government subsidises electric, rent, and shipping, and even provides literal slave labour to solve the problem of "how do we outcompete the rest?"
For over a decade I've heard idiots saying "If China undercuts you, make something else". I think they've finally shut up now.