There are very few technologies where the US or EU has an edge over China. Embargoes helped a lot with that.
In fact it becomes absurd, for example the EU/US/UK wants to make the world a better place by replacing ICE cars with electric ones. China builds great cars for cheap in huge amounts and the EU/US/UK act like Gavin Belson saying "I don’t want to live in a world where someone else makes the world a better place better than we do". There you lose the environment claims, even if EU/US/UK have a point.
The west lost the technological edge, the Americans like to claim that EU regulated too much but in the American case it appears that not regulated billionaires didn't invest in tech but resorted into rent seeking and now they expect the politicians to protect them from the Chinese companies who allegedly received unfair support from their governments but nonetheless they made better products.
I don't know I'm not a clairvoyant or expert analyst in this stuff, I'm just pessimistic on the near future of humanity and the west will be the bigger losers because they lost the plot.