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You are the one stuck in a time warp from 1980. The industrial capacity of China etc....now dwarfs the USA and the EU.
But according to you, the USA must have lost WW2 to the Japs, because the USA couldn't export after the war started !
Look at the amount of steel America makes. That is the amount of steel America needs. China can over produce lots of products. And they have. But that does not make them strong. It makes them dangerous. China over produces poorly made products all over the place. From Apartments to electric cars. China has no idea how much of anything should be made. And there seems to be no penalty for producing bad products. So China, the worlds trash heap, will implode. And their dysfunction will screw up many other economies along the way. Hopefully they will right size their production before they start a war. Which is the way that poorly planned economies usually end up trying to find some usefulness of their over production.