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.