In terms of the development of manufacturing production managed by China indeed dominates the market, they have very high economic and technological developments and are able to compete with as head to head even in terms of politics and global influence.
Take it a step forward: What can producing countries do without research and development?
While the R&D countries can set up shop elsewhere.
The biggest issue the US holds is their abandonment of the working class, tariffs were planned and came together with lower tax and regulation so the working class can lift itself. The later is still open.
They conduct research and development in their own country, and we know how they focus on each innovation that is born out of every company's obligation to fund research in that country so that they have many innovations for the development of the latest technology.
The issues in the US are more complex than what you see today, both domestically and globally. They are unstable, they have made many mistakes with their new policies and their support for countries engaged in warfare, which has had a negative impact on trust in the US.