China does not want to deindustrialize any country. Why do you think of everything in terms of war and domination ? China has built a industry capable of taking any product and make it better and cheaper. There is no psycho strategy behind it. They will do it till every chinese will live a comfortable life equal to an american. At that point america will be able to compete again.
government first intervened in British Steel last year to prevent its then-owner, the Chinese company Jingye Group, from shutting it down https://www.nytimes.com/2026/07/16/business/britain-national...
The CCP has publicly explained that their strategy is indeed to dominate key sectors via gov subsidies, de-industrialize other nations and gain strategic leverage in the process.