American potential was not British shipbuilding capacity

Could the United States match Royal Navy shipbuilding before and during World War I?

Not immediately; it possessed the long-term potential, but not the established yard capacity required on the wartime schedule.

The answer draws a strict distinction between industrial potential and usable naval construction capacity. The United States could in principle invest enough to challenge the Royal Navy, but the necessary shipyards had to be built, equipped, and staffed before they could deliver ships. Britain entered the period with that accumulated infrastructure already operating. A paper comparison of national wealth therefore overstates what the United States could construct on the relevant wartime timetable.