An excellent article when it comes to throwing a dry fact into the face.
An even greater commentary been provided by this tweet: https://twitter.com/kamilkazani/status/1539623100144295936
How did America pump out liberty ships faster than even China can build ships today during the WW2?
US military production was a byproduct of its great civilian heavy industry. US tanks, ships, airplanes, bomber, guns were mostly made by factories repurposed from making civilian goods. So when the demand for them waned, so did the raw military potential. This was in contract to USSR, where civilian manufacturing was a byproduct of weapon production.
American military planners knew that all well during the late cold war, and its pursuit of "smart weapons" was an attempt to substitute quality for quantity, and capitalise on American leadership in electronics. This paid out extremely well. Even first generation smart munitions were many times more efficient.
After the Cold War, US peacetime military planning started to stagnate, and finally disappeared due to obsession with "special operations" during the War on Terror, and military procurement becoming a business like operation. By only allowing expensive toys winning procurement competitions, the military pigeonholed itself into extremely uncompetitive purchasing position.
While USA has no rivals in arms exports for things like fighter jets, nearly no brand new weapon systems developed after year 2000 are bought by US allies. As you see even now, most bought US hardware today is still from the Cold War era, which is a proof of the above. Look at the super expensive titanium M777 howitzer: they wanted to restart its production recently, but... surprise! They have to buy its titanium from Russia. F35's titanium bulkheads are now turning into a similar issue.
US electronics is no longer an edge for its military industry, and more likely a liability. What however the West can deny China, and Russia are high grade machine tools, and other implements for the heavy industry: modern Chinese steel industry was built by Dutch, car industry by Germans and Italians, materials by Japan, electronics assembly by Taiwanese, and heavy machinery by Koreans.