Why do you think it'd "stick it to China"?
We're talking about a country that is literally building 10's of millions houses just to keep its economy growing. We're talking about a country that is literally building islands in order to be a bigger player in trade.
China is going to go to great lengths to get better, regardless of what road blocks the US puts up.
We're also talking about a country that's guilty of industrial espionage at a large scale ...
China is indeed going at great lengths to get better but they're also getting more desperate as well to move to higher value goods/services. Not sure if the western world would appreciate that considering China would be able to dump their stuff more easily and businesses located in the west would have to close since it likely wouldn't be profitable for them to operate anymore ...