I think you are a bit too premature: China has at least one(usually dozens) competitor for literally everything America has. You just don't hear about everything in the US.

Think of any industry and there is probably a Chinese competitor that is trying.

Tesla -> BYD

Google -> Baidu

Starbucks -> Luckin Coffee

IMAX -> China Film Giant Screen or maybe POLYMAX

Finally Disney -> Possibly Beijing Enlight Pictures

They released an animated film Ne Zha in 2019 that according to wikipedia was "the highest-grossing animated film in China,[16] the worldwide highest-grossing non-U.S. animated film,[17] and the second worldwide highest-grossing non-English-language film of all time at the time of its release. With a gross of over $725 million,[18] it was that year's fourth-highest-grossing animated film, and China's all time fourth-highest-grossing film.[19]"

[1]:https://en.wikipedia.org/wiki/Ne_Zha_(2019_film)

Some great info here [2]: https://www.youtube.com/watch?v=W2J0pRJSToU

Ok I'll admit part of the reason people don't hear about these companies is that they are still too half baked. But look at BYD, they started off producing junk but this Chinese mindset of grinding and rapid iteration has put them to be super successful today. Why couldn't that kind of happen with their Disney competitor?

Another thing that might be happening is the literal closing off of the world into two spheres. Western US led and Eastern Chinese led. As we are seeing with BYD, they are taking over all the non western markets(and some western as well) but the US has essentially slammed the door shut on them (they haven't actually but made it impossible to enter with their tariffs). Maybe the Disney competitor will take hold in the non western aligned world?

Honestly its a shame they are not open or democratic. The idea of watching or even being part of a rising country that is building their empire is fascinating to watch. Will they collapse due to demographics or these fundamental issues like communism or will they make it? Unfortunately for many people, the only option is to stick with the US and work to keep the ship afloat as there is no place for them in China.

Chinese nation state hacking groups also literally break into American Fortune 500 companies and US aerospace/defense companies to steal R&D and tech to then use themselves + give to private Chinese industries. That sure does help them a ton when they dont have to do any research and can just steal and copy instead.