And of course all the product you bought that were made in China are lies, they don't exist at all. And obviously America will be able to make these products despite having about 0 unemployment, but hey, magic happens here amiright?
American entrepreneurship doesn't mean all the manufacturing would take place in America. Entrepreneurial people are already moving to build more manufacturing in other countries where labor is less expensive and more plentiful than America. I don't think anyone was arguing that America would manufacture everything they currently import from China.
Can't those other countries start behaving like China? Sure, but doubtful it would go anywhere.
The cost to the USA would make the recent debt crisis look like a picnic.
If China decides it doesn't want to trade with the US, there are plenty of places that will.
And honestly, China had already reached the limit of an export-based economy. Growing your national economy on labor arbitrage only works up to a certain level of per capita wealth.
That's what's called entrepreneurship. People will get rich making these products that are in sudden demand.