If the Chinese made really good stuff, like Japan,etc. Would we really be super screwed?

I mean very advanced everything, if they actually had a quality control group in charge of everything wouldn't they soon take over the world? I realize that this sounds naive at the least but with 1/5th of the world population at their disposal willing to work for peanuts and probably more than capable of doing so in an exemplary fashion if they so decided wouldn't the rest of the world have to put heavy tariffs on their products simply because they were not only extremely affordable but in fact the best products available? Just a crazy thought because, as I see it, that's their only flaw in the grand scheme of things. The only time I probably don't buy Chinese in an effort to conserve capitol is when I really need something not necessarily that sophisticated but merely well made- i.e. American tools, etc. What if they caught onto this and pursued it with a vengeance or would this leave them entirely without buyers?