[Hayvok]

Population is a single, low-resolution parameter into a theoretical ship-building-capacity equation, which really needs a basket of parameters. Raw resource availability, fuel capabilities, naval training, coastline details, etc.

Great Britain historically had a fraction of the population of France and other European powers, but consistently out-produced the rest in ships and projecting naval power.

[HPsquared]

China produces 12 times as much steel as the US, per year.

https://en.wikipedia.org/wiki/List_of_countries_by_steel_pro...

[_DeadFred_]

During a peacetime economy. Don't forget during war time, your factories are being bombed. You're pre-war numbers don't indicate what your war time numbers will be. China's manufacturing tends to be focused around the easter coast and it's rivers. The USAs is spread throughout the country. The USA is pretty good at setting up factories. My understanding is China is more into single large factories. The USA is a net exporter of oil (that greases the entire machine). China is an oil importer (not good when you country is being sieged during war).