It makes sense that China (and Korea) have leaped ahead. They have relatively high average IQ populations. They have cultures that celebrate education, intelligence, and hard work (not sports and broism). They have heavy governmental investment in infrastructure (eg internet, cell networks) and they heavily regulate industries so as not to stymie utilities such as the internet.
Hopefully the US and Europe can create a cultural shift (particularly the US on this front) and can see more government investment in infrastructure for technology and ease of access. If so, the US/Europe will maintain/grow their competitive edges vs China at least, as they have better property rights, fairer courts, more developed financial markets, more meritocracy of opportunity, etc. Korea has the best of all worlds in many ways, but not a large enough population or enough natural resources to be a contender for one of the top few economic powers in the world.