They'll blunder. They'll do it even harder in the absence of competition.
Businesses blunder. "The market" is just a set of observations, including that competitors will tend to take advantage of those blunders. It is not a failure of the market that businesses have blundered, nor surprising that it will happen occasionally, and neither I nor mrweasel implied otherwise.
Yes, identifying a problem is easy. But solving shortages in all cases requires perfect knowledge of future demand. So, good luck.
Scratch that, we have to hate Chinese companies because they do business with the Chinese military, unlike Intel, Nvidia, Samsung who don't do business with the US and ROK military ... oh wait.
I suppose it'd be true that the standard of living of some Americans depends on China not succeeding — specifically, those Americans who own corporations competing with Chinese firms — but I think they'll survive just fine with only 10 yachts instead of 15.
And the standard of living of working class Americans has been on a steady decline since Reagan by the hand of US administrations, not by the hand of CHina.
This isn't defending anyone's standard of living, it's defending profits of domestic monopolies like Micron, who indulge in state subsidies from US taxpayers and then fuck then over on prices.