One can only hope. I suspect you may be right, and such will lead to a serious readjustment in world economy.
@Clovisdad well China is drinking their own medicine as their industry is horribly overcapacity and many international firms are turning to countries like Vietnam or Indonesia to make their bric-a-brac , and China is stuck with a $30T bill. China's expansion was made possible by the same eurodollar expansion that made Brazil's "miracle" possible. I wouldn't even describe China as "mercantilist", nor would I describe the US, EU, et al "free markets". They are all financialist interventionist economies to some extent, who have drank from the vessel of "free" money in the 2000's that are now paying the price.
Anyone who has dealt with the Chinese manufacturing and international trade practices knows better than to describe their performance as "free trade." It is "mercantilest" in the most aggressive sense of the word. The reason they have such success at it is their awareness of the weakness and corruption of our large industrial players who are only too happy to move manufacturing abroad for short term benefits. I lay this at the feet of our lightweight industrial management which has not had a serious goal of forceful competition since the '90's.
'free trade'? Since when? Need equalization to cover Europe's VAT subsidies. MAGA