Its no so much China's manufacturing capabilities, but their growing consumer base. Jack Ma of Alibaba was once interviewed and asked about entering the US retail market (ie Aliexpress). He said they tried and didnt think the juice was worth the squeeze. China is already the largest automobile market. Add in India, Brazil, and Sub-Saharan Africa, and you have the vast majority of the worlds population. Neo-Liberals pushed for economic globalization because they assumed they have their products manufactured by and sold to all the citizens of countries that now belong to BRICS.