Going from supplicant to one abusive superpower to another sends the wrong message. Carney's Davos speech spelled it out for you.
Yes. We have virtually all the skills, expertise and knowhow with a few notable exceptions. (Submarines, we could build them but at great cost and a learning curve.) We could build nukes in a year if we wanted to. The delivery system would take longer than the payload, but we could do that too.
Chinese goods are cheap because market function and the profit motive was not of central concern, neither human rights, labour rights or environmental rights. Your claim of "cheap" is badly distorted. There were costs born by the Chinese peoples across each of these domains that don't show up on an invoice, but the bill always comes due and is paid in full. Your definition of "cheap" is a perversion of full cost accounting to suit a narrative.