The real problem is much more terrifying.
The reason the Chinese are catching up is because the US has slowed or even ceased to innovate in a number of areas. There are too many MBAs, accountants and lawyers in charge who don't understand what is needed to support innovation and invention.
All of this blocking exports is really just misusing government for international competition in business. In addition to that capitalism has lead them to seek cheaper sources and even helped transition tech to Asia where cheap labour can produce the products. Realistically the only way to compete in tech is to continue to innovate. That requires long term strategic spending on R&D and product development. If your business model for competing has become to outsource to lower costs and litigate (patents / copyright) or lobby for protected markets then its only a matter of time before someone comes up with a disruptive technology and puts you out of business.
Much of the recent innovation in the US corporate world has all been about "rent taking", turning products into subscription services and turning customers into products (advertising, eg google and facebook). Amazon is basically rent taking for building an online catalog and delivery service (which brings some value), but there's limited or no invention there.
Greed and self enrichment has taken precedence over investing in the future for many US companies and share holders. The resulting loss of capability and talent has also hamstrung the US. Realistically you cant even produce complex products like the iPhone in the US anymore as the know how for manufacturing no longer exists here, you cant hire engineers that know what to do.
The Chinese on the other hand have people working hard to understand the technology, a strong focus on engineering, and considerable number of scientists and engineers in leadership roles. There are long term strategies for technical development and innovation. Unless the US seeks to change this its simply a case of the fact that accountants and lawyers will never and cannot out innovate scientists and engineers.
Frankly I expect the Chinese to copy stuff. This is nothing new. The US space program was built based on stolen tech (V2) and poached German engineers. The US is just crying because this time they are not doing the stealing but getting robbed instead.
The solution is real investment in R&D and innovation. Something quarterly Capitalist thinking is unlikely to do enough of, and government in the US is captive to the Military Industrial Complex (which is about finding excuses to turn US tax dollars into private profit) and isn't spending much money on real research.
There are some small exceptions... but the reality is in the west one needs to look to Europe (mainly Germany) for leadership in innovation at this point. I don't see it coming out of the US.