We have been complacent in the west in turning China into our manufacturing facility
It starts with cheaper labour but eventually the whole supply chains needed for manufacture appear. When limestone, coal and iron ore was available in the UK we exported loads of it. The industry developed initially where coal and limestone was local, along the R. Severn. Move on in time and the ore gets imported. Move on again and the metal gets imported instead. Compared with being able to dig it out from the ground and process it locally any country is at a disadvantage if it can't do the same.
All rather over simplistic but that is loosely how it works and not just with iron based materials.
Business doesn't much care what goes on in China. The same could be said of Russia as the west has lots there. Business want profit and if you want to be able to buy the stuff..........................................