the 1990s weren’t that great Max. Japanese neo-liberal policies are what stopped their progress, same as here. They really have weakness establishing domestic markets, this is a result of inequities in wealth distribution, lack of population growth, speculative real estate markets, and lack of receptivity to immigration. Decentralization is what caused the disastrous US response to the pandemic.
The US polestar in Asian policy is the Alfred Thayer Mahan inspired Commander’s Handbook, aka how to conduct gunboat diplomacy in the Far East rather than “freedom.” The US national planning priority is as the Chinese point out directed toward warfare.
Over-commitment of US national resources to the military industrial complex and the national security apparatchiks creates the weakness in the US economy and other soft power indices that leave the US less competitive with China. Further it results in a compulsion to engage in threats, sanctions, and other confrontations to compensate for those very deficiencies. It won’t work. It’s a vicious cycle that leads to domestic instability, less international US credibility and legitimacy, and greater risk of military conflict.
Good luck breaking up the monopolies. They can’t even regulate them. They do whatever they want. They own the politicians.