The CCP aspires to climb the value chain up to where the US is, which means shifting away from manufacturing to the high profit margin tech, biotech, and other science related industries.

The manufacturing stage is just a stepping stone to getting to where the US already is.

The end goal of the CCP is not to be a middling power, with middling wealth. It's to be the greatest power. That some in the US want to go down the value chain and take China's manufacturing spot just as China zooms ahead of the US, is, well... It would be comical if it weren't so sad.