Aside from geography, attracting talent from all over the world is the one edge the US has a nation over countries like China. But now the US is trying to be xenophobic like China, restrict tech import/export like China but compete against 10x population and lack of similar levels of internal strife and fissures.
The world, even Europe is looking for a new country to take on a leader/superpower role. China isn't there yet, but it might get there in a few years after their next-gen fighter jets and catching up to ASML.
But, China's greatest weakness is their lack of ambition and focus on regional matters like Taiwan and south china sea, instead of winning over western europe and india.
That's a strength. Them not having interest in global domination and regime change other than their backyard is what allows them to easily make partners in Africa and LATAM, the most important regions for raw materials.
It is a strength, if their goal is to have a stable and prosperous country long term, and that seems to be what they want. good for them. But nature abhors a vacuum, so there will always be an empire at the top of the food chain. Such empires want to maximize wealth for their people and secure them against threats, that's why invasions and exploitation of weaker countries happens. That game hasn't changed. Friendly relations work, until you need a lot of resources from a country that doesn't want to give it up. Or, like with the US, when they're opening up military bases next to your borders and you need a buffer state. Or, when naval blockades and sanctions are being enforced against your country for not complying with extra-sovereign demands.
History shows that countries content with what they have collapse or weaken very quickly.
China will have a population crisis in a few decades for example, and it won't have the large manufacturing base and its people will be too used to luxuries to go back to slaving for western countries for pennies. Keep in mind that the current china itself is so great and prosperous because of all the invasions it did against western china and satellite states like Vietnam and north Korea (the US isn't special in this regard).
The world has been bipolar and multipolar before in history, and it can be again. The unipolar period of American dominance is ending.