In my opinion, the guy’s assessment is alarmist. The US now has in service:
50 Los Angeles Class SSNs
3 Seawolf Class SSNs
1 Virginia Class SSN and 5 more already ordered
15 Ohio Class SSBNs
4 Ohio Class SSGNs
All of these boats are far superior to even the newest boats that the PRC is building. At present, they have:
5 Han Class SSNs (a crap boat that’s dangerous to operate and very noisy)
4 Russian built Kilo diesel electrics. These are good submarines and they will probably be getting more. They would pose a limited yet very real threat to US and ROC ships.
2 or 3 Yuan Class (039A) diesel electrics.
5 Song Class (039) diesel electrics.
50 or so Ming/Romeo Class diesel electrics
1 Type 093 SSN
1 Xia Class SSBN (complete junk)
The Ming/Romeo boats are old junk. They would stand no chance in modern warfare. The Yuan and Song boats are domestically developed and probably not too bad, but nowhere near as good as the Kilos. The new Type 093 SSN may turn out to be a solidly built, safe boat, but it is still quite far behind any SSNs the west has built since the 1970s. Sites like Global Security claim it is roughly equivalent to the Soviet Victor III, which is now fairly dated technology. I imagine they’ll build a lot of the 039 types and eventually develop them to something as good as the Kilos. Rather than build a lot of the 093 SSNs, they might just build a few, try to learn as much as they can about building and commisioning such boats, and then put their resources into the next generation of SSN rather than build a lot of the 093s; it would already have a difficult enough time dealing with its US counterparts.
At present and for the next couple of decades, I doubt the PRC will have anything that could successfully challenge the submarines and ASW systems currently deployed by the USN. They can’t even build boats that could challenge the Los Angeles class boats that started entering service in the late 70s. However, the US has definitely slowed down on submarine building. Even though the Los Angeles boats are currently far superior to what the Chinese are building, they are not being replaced one for one by the Seawolf and Virginia boats. The mainlanders won’t have a qualitative advantage for decades, but unless current trends change, they may be able to send more submarines to war than the US in a couple of decades.