You're thinking at the assembly plant level (which I do not completely agree with), but think about it at the chip level. How often do you hear stories of Chinese spyware being discovered in electronics? The real question is how much more widespread is it than we realize because of all the spyware we haven't found yet.

Apart from that, I'd argue supply chain logistics for raw materials is better for China after years of investing in Africa.

Although honestly as I type this, I'm realizing just how little I know, so I could be persuaded otherwise. But to me it just feels like America's time in the sunlight is coming to an end.