Your conclusion isn't logical. US per capita income is far higher meaning its economy is far more leveraged. To put it simply Costco employees need to push through way more goods per person, Google employees way more ads per person to sustain their much higher income. On the other hand, Chinese unskilled migrant export factory workers, while low wage, have a rural home to go back to and their standard of living won't change that much, while their skilled technicians can not be replaced en mass anywhere in the world. There's no way you can win a contest of pain against China. Think of the comparison as throwing sand into gears that are running at different speeds. You do far more damage to the one running at high speed.

The reason I brought up the NYT article is to say that even if you think change is important doing it rapidly is going to put the people that the policy is supposed to help through the wringer.