It definitely would fail but isn't it an order of magnitude more likely that's due to the parents, teachers' unions, and other factors rather than American students are neurologically different than Chinese students and therefore learn differently?
If they do have much better outcomes (I have no idea if this is the case or not), if you made that change in kindergarten today and moved it up through the end of high school with that class, I bet you'd see remarkable improvement in them compared to older cohorts.
Whether the differences are genetic or cultural is interesting but doesn't really matter. The reality is that they exist and are relatively immutable. For a very basic example, in China failing students fail. In American schools, failing students tend to be passed along. And such things are difficult to change, even if you could prove beyond any doubt that doing so would yield better outcomes for everybody.
[1] - https://worldpopulationreview.com/country-rankings/pisa-scor...
That is the grain of salt all education comparisons need to be made with.
But what I'd observe is that by many metrics the US hasn't really made major progress since our glory days. For instance real median wages from 1979 to present have increased by less than 13%. [1] It'd be disingenuous to compare that to China because they started from much less so obviously you expect dramatically higher growth, but I think it's reasonable to claim that we could have, and should have, done dramatically better than 13% growth in almost 50 years.
Another point is that the US was able to 'artificially' strengthen its economy owing to the dominance of the dollar and being the center of the tech boom. I say artificially because those things were obviously going to be liminal. We needed to leverage those advantages into something long-term. Instead it looks like we've been mostly treading water and largely wasted it all.
And now pair all of this with contemporary times with a sharply divided population, unsustainably low fertility rates, terrible education outcomes, and more. And no, I don't think it's reasonable to claim that the US is doing well, let alone to the point of being able to rest on our laurels as you're implying.
Also there is plenty of reason to think that China isn't giving honest numbers, but what's the true numbers are is impossible to know
And the numbers we're citing aren't just from China, but from third party organizations. In any case, the arguments don't come to debating numbers - the change is obvious and visible. It's not like they're claiming new record low unemployment while seemingly large numbers of people somehow people struggle to find jobs.
There is a common want to make the grass greener. However it isn't always and most people don't know.