Agreed.
As per Rifkind's "Third Industrial Revolution", 86% of all productivity growth since the 1st Industrial Revolution in England has been due to improvements in aggregate energy efficiency aka technology.
In the long-run, the studies indicate that all productivity growth ends up as higher wages.
So if China is leading in technology, then the average Chinese person would be the richest in the world, barring some microstates and resource states. Then multiply that by the Chinese population, and the Chinese economy would be over 4x larger than the US economy. But this is still some decades away.
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And remember that at the end of the day, isn't the end-goal economic prosperity and security?
I think this discussion really depends on your vision of what PRC is aiming for. Mao would have wanted to see Red Flags planted all over the world, but Deng changed all that. We aren't sure what the top Chinese leaders' visions are but there is an argument to be made that the current PRC is similar to the Song dynasty.
The Song dynasty was leading in technology in the world, steelmaking during the Song was unmatched in the world. The Song dynasty had gunpowder and rudimentary rockets and explosives, by contrast its neighbours initially only had bows and arrows. The Song dynasty had printed bank notes, a very developed economic system which prospered in part due to ease of transportation throughout the empire. The Song dynasty exported vast quantities of goods throughout the world. The average person living in the Song dynasty would be the richest in the world at that time also.
This all sounds kind of familiar doesn't it, no one would deny the Song had economic prosperity. If we followed your logic of analysis and look at the Song dyansty, you can argue it had security also. After all, in the long run the mighty Song dynasty should be growing faster than those northern barbarian tribes, the Song was more economically productive than the northern barbarians. In the end the Song did outlasted two of its main rivals, the Liao and Jin, but still suffered a cruel fate.
Clearly the people were living great lives in the Song, they produced great scientific inventions, art, poems and philosophy. But the Song dynasty was never highly revered in Chinese history, official or unofficial. They squandered many opportunities to defeat their rivals, they were the infamous cautionary tale for future Emperors. They didn't expand the empire, in fact they didn't even reunify the empire. Mention the phrase 燕云十六州 and you can shut down any Song fanboy. Song emperors' complacency was their biggest sin, and it will never be forgotten by the Chinese people.