Even if that is the case (and I’m not entirely sure, given their massive aging population and their economic issues), a brighter future is not exactly the same as “kicking our ass.”
IMO that’s a rather pessimistic way to look at it. Another way to look it: the U.S. has moved above & beyond low-level/lower-skill manufacturing, and has focused on high-level/complex/precision manufacturing.
The speed of shipping from mainland China is sometimes indeed mysteriously fast. At the same time, I’ve always had very good experience with Digikey, both personal hobby stuff and ordering professionally.
It’s already been stated: cheap labor and lack of environmental concerns. Another one is likely a lack of sufficient worker safety regulations (or ignoring the ones in place).
Yup. 1800s Industrial Revolution style full-blooded no-holds-barred capitalism but with 21st Century IT and finance tech.
And zero installed base of vested interests to worry about offending on the way up.