I agree we are finally doing
something, which is far better than the
nothing we've been doing until the past few years, but in my opinion it's nowhere near enough yet to make up. China is on the
third roll out of their equivalent of our CHIPS Act[1], where is ours?
We need more financial incentives, more trade restrictions, harder and heavier diplomacy, and indeed even exercising our military might where necessary if we want to stay the preeminent superpower and continue Pax Americana.
China is a very motivated and ambitious country, they have every reason to kick the US and by extension the west off the pedestal. We are at the point we can't just sit and go "Made In China means Crap" anymore, we need to take them seriously and act like it or we will lose our era.
[1]: https://slashdot.org/story/24/05/27/1327206/china-sets-up-th...