The US voluntarily de-industrialized and financialized its economy, so corporations could make more profits by outsourcing manufacturing jobs to China, to exploit workers with lower wages.

Now China has become the world's manufacturing superpower, training highly skilled workers, significantly raising their living standards, and building its own local industries, which are out-competing many US corporations.

So the US instead changes the rules of its beloved "rules-based order", imposing sanctions and waging economic war on Chinese companies.

Meanwhile, Washington blames Beijing for this reversal, ignoring how the USA's own polices of de-industrialization, financialization, and outsourcing destroyed its industrial base.

As the Financial Times puts it in this article, "America is feeling buyer’s remorse at the world it built": https://archive.fo/Hh3US