The tremendous growth is still happening on sector by sector basis, and arguably west only holds edge in few extreme frontier niches while PRC increasingly dominating rest. Relevant PRC joke:

If China can't make something, it's considered high tech. Once china makes it, it's no longer high tech.

PRC makes high tech products into low margin commodities. That's what happens when they have roughly oced combined in stem talent and vast industrial base to value engineer. And most of it happened in last 15 years. The point is PRC catches up fast (including extreme frontier), and when they do, they can scale and cut margins, which is more interesting direction than west who seemingly can't. The point is that is obviously the superior dominance recipe vs west who has vanishing frontier lead that will continue to be lost because western margins is PRC opportunity. The point is when PRC makes >50% of global stuff materially but charges <50%, it's exceedingly likely that will take over everything, at PRC speed, and will not leave west any high margin, leading edge niches, unless west can learn to operate with low margins as well.