Does it?
Instead, it seems to start from the premise that they are not already the world leaders in "next gen technology".
Which is a total fallacy.
You know lines like:
China’s manufacturing engine has largely stalled
and
Even though China is graduating far more than 1 million engineers every year, the quality of their education is so poor that they are not employable in technical professions.
->utter BS. For a start, their "top 10%" is greater than the total number of US graduates. And their "Bottom 10%" is still more employable in a technical profession than an average US graduate.