Just so everyone is clear, the gripe here is that China is destroying the profits of the western bourgeoisie, because they are forced to make their products cheaper to compete with Chinese competitors.
This is the central argument of 100% of all western economic analysis of China. The more affordable China's products, the more it destroys their monopolies and their profit margins.
As always, the purpose of such propagandists, as well as their "elected" governments, is to make the interests of the bourgeoisie appear like the national interests of their respective countries. It's the first rule of bourgeois economics: What's good for the bourgeoisie is good for the proletariat.