No, this is a anarchy of production perspective. We have seen that Russian weapons production, which is tightly managed by the state, is robust precisely because it was a strategic asset. Russia is likely capable of more such industrial strategy because production is a strategic asset necessary for autonomy. The liberal capitalist countries can't do this, and China has shown that they are interested in more countries outside the West building production capacity because China doesn't want to centralize the ability to resist Western sanctions. So Russia has an interest in doing it strategically and not anarchically, China has an interest in Russia doing it, China and Russia have good relations, and China can support Russia in doing it.

There is no need to outcompete China if you're not part of the Western bloc