In many senses there's hubris in the western* view of China accomplishments: most of what western companies have created has had significant contribution by Chinese scientists or manufacturing, without which those companies would have nothing. If you look at the names of AI researchers there's a strong pattern even if some are currently plying their trade in the west.
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* I hate the term "western" because some "westeners" use it to separated what they think are "civilized" from "uncivilized", hence for them LATAM is not "western" even though everything about LATAM countries is western.
China for sure will catch up, the question is what they will do with it. They're not ambitious like the US/West. The US wanted influence all over the world as an extension of the cold war and to keep economic interests safeguarded. But China just doesn't operate that way. They're more hands-off. They could be opening up alibaba cloud datacenters all over the US, offering it as an AWS/Azure alternative, funding tons of startups all over europe, the US,etc... to exert their influence, but they won't. They have a more long-term low-and-slow approach to global domination. The "100 year marathon" as they called it, which they'll win for sure.
China's greatest weakness is not just their lack of ambition,but their command-economy. They're doing capitalism but with central control of the economy. It intertwines government policy with corporate policy, making it harder to do business overseas (like with bytedance/tiktok).
Westernism is broadly an extension of the academic notion of classicism, starting in Egypt and then Greece Rome and into Europe and the Americas.