Both US and EU are already busted. See this from the Asia Society Policy Institute (ASPI): https://www.aspistrategist.org.au/aspis-critical-technology-tracker-2025-updates-and-10-new-technologies/

China now leads in 66 of the 74 technologies tracked, with the United States leading in the remaining eight

And you can see in the graph how the share of publications have gone down by like half in the US, EU and UK. While China and other developing nations have continued to invest in their people. Unfortunately our neoliberal leads do not know how to do anything else but privatize so the downward trend will continue.