probably not.
first, the chinese don't want to compete with the united states, they want to conquer them. that's clear. the chinese are simply laughing at america and calling them idiots, as it tries to "compete" and "trade" with them.
second, while a sufficient supply of prison labour may help in reshoring specific items related to american national security, the republicans are missing the point that the reason the chinese can get away with this economic system in the first place is due to the population density. the chinese can enslave their own people because they're severely overpopulated. the lower population density is the reason that slavery collapsed in the united states in the first place.
rather, the americans may find that they don't have the same level of racial solidarity that the chinese do and that, if you take away national pride based on propaganda about freedom, america may have difficulty finding soldiers to defend itself from an imminent chinese invasion.
whether the right-wing fringes in america like it or not, the war against china will have to be about liberty v slavery and if america does not have liberty then it doesn't stand a chance. it will get enslaved by the chinese.