But in general, I firmly believe that western nations with high social, environmental, legal standards cannot compete with China, except in areas where China didn't yet have the chance to catch up for some reason. I think we are going back to a world where most nations know how to produce almost everything, so competition will no longer be on that knowledge but more on the other necessary factors to make production cheaper.
There's the Ricardian comparative advantage argument: even if, say, China can produce N95 masks more efficiently than the US, the US might still be able to export N95 masks to China, if all the Chinese are so busy producing more profitable products like solar panels and microchips that they don't have time to also produce N95 masks, as manifested by Chinese wages rising too high for N95-mask factories to produce N95 masks at competitive prices.
However, this does not seem to be the case at present. If anything, the situation is reversed: there are things Germany imports from China, even though Germany could make them domestically from less inputs, because German wages are higher than Chinese wages.