> The jury is out there about whether China can take a meaningful lead in any major technological field the US and Europe are actively invested in.

They might not have to do that to dominate. They'd dominate if they're just near the cutting edge and cheaper.

And the US and Europe have shown a lot of shortsightedness and incompetence by abandoning technological fields when faced with Chinese competition (e.g. solar panels). They're too blinded by free market economics to make the right decisions.