I can't remember which German General made this statement but it applies in this circumstance: "Our tanks are worth ten of theirs..but they always have eleven" Yes the Russians had quantity but a lot of that quantity was supplied by the Americans especially trucks. It also included a significant amount of aluminum. The last time an Asian military dictatorship sought to build an empire in the Pacific they were comprehensively defeated by America's industrial output, a factor Yamamoto foreshadowed.
AFAIK the CCP has the industry but they rely on externally sourced raw materials.