Having spent time in China and I still regularly watch Chinese TV, I can say China has surpassed the U.S. technologically, especially in the area of consumer technology. China is now basically a cashless society, everything is done on your smartphone. The downside is the government knows everything you are doing, and with a press of a button can mess your life up (sorry, you don’t have privileges to buy airline tickets any more, etc.).
And every bit of that is tech that was developed here and either sold to them illegally, stolen by them, or was part of the mandatory “tech transfers” that were part of the old trade deal.
A cashless society is the same as a totalitarian society. Physical money (cash or gold or silver) is equivalent to freedom. Ask any Jew who fled a Nazi or Communist regime.