The west won the world from the 17th to 20th century from a foundation of violence and theft. Real violent, real theft. Killed hundreds of millions around the world. Shit just India they killed over a hundred million. Looted resources, stole land, stole ideas, stole technology and knowledge, enslaved millions upon millions to labour, colonised half the world and killed each other the entire time they were at it.
Once wealthy and "developed" they had a sense of moral superiority, built on the foundations of this violence and stolen wealth. Their newly colonised lands opened up to migrants which further toiled for insignificant sums to build them and then were mostly mistreated and abandoned as an afterthought.
Towards the middle of the 20th century, the US truly started lifting off thanks almost ENTIRELY to foreign talent. Mostly Jewish genius. Then closer to the turn of the century, the US managed to attract all the world's best minds to reinforce its dominance in science and tech. Even to this day the majority of its greatest industries are founded, run, and operated by majority foreign born individuals (statistically more than 50% at least in software and computing) and the "American" ones left are about as "American" and WASPy as their Maths Olympiad teams.
China doesn't need to perform the violence, theft, and colonialism. The US blames China for stealing tech. Sure that actually definitely happens but nowhere near as much as they say it does. They also forget literally everyone does it and has done it while they were going up. China demands trade of tech for market access through many domains sure. But those tech were also partially developed by those businesses thanks to the market access and extra income that came from Chinese consumers participating in that capitalist process. Sounds like CCP just used the leverage they had.
There are only one or two major commercial technologies that China isn't competitive or leading in today. This is literally it. This is the moment. The last threats to Chinese security and rise as an equal or superior power to the sole superpower today is really military and global attitudes. Thankfully statesmen around the world are more rational and knowledgeable overall than the anglosphere, Murdoch media consuming, truck drivers in the west. The military threat is the only real threat even if the US prefers playing information warfare.