I would say 40% is actually surprisingly low, given that China supplies something like 80% of the world's polysilicon (https://www.nytimes.com/2021/04/20/business/economy/china-biden-solar-panels.html). Trade is an area where, if left to markets alone, not much will change, not fast anyway. Apart from addressing individual issues like this, the key is to demand that when international trade and investment agreements are negotiated, labor, the environment and human rights standards be integral and binding elements. The "original sin" is when neoliberal trade agreements were rammed through by Western governments in cahoots with business in the 1990s, entirely decoupled from labor, environment and human rights, creating the Frankenstein's monster that is China today.

I should add that the Trans-pacific Partnership, which was seen as a way of shifting away from China, repeated the same mistakes as those WTO agreement of the '90s, by excluding sufficient labor provisions. As a result, Obama in the US faced intense opposition from within his own party before Trump killed it. Still, just in the last five years, both Western governments and businesses have really begun to see the downsides of business with China, and this is an opportunity to prevent future bad deals with the CCP. But as solar panels illustrate, in so many areas, the world has become so dependent on China as source of goods, it will take considerable effort and a long time to shift away from it. Many businesses have been burned so badly by China that, if they could, they would move, but few developing economies has arisen that can easily replace China as a source of low-cost high-quality goods.