I have always looked at it like this, there is money and tech, and then there is DEPTH of that money and tech. For instance, china has a whole lot of nice factories much nicer than ours, with robots and such, and dollar for dollar, they will have more now or soon, so on the surface they look like they are surpassing everyone, you check off all the boxes, and get more or better tech, more billionaires, but there is a second column that they are scoring almost ZERO in.
That is the "depth" issue.
Their tech may be the latest and greatest, but there really are no "custodians" of the tech. For instance, in WWII they found hot air balloons from japan with bombs on them crash landed on the west coast of N. America. Now if that happened the other way around, say balloons crashed in Beijing from N. America, they would see the English on the writing and think..oh, americans did that. Whereas, in the original case, the Westerners, just didnt see japanese writing and say OHH japanese, sheesh, that was close, NO, they grabbed the sand bags and sent them to a "Custodian of Tech", in this case Some old british guy. We will call him NIGEL. Nigel took the sand put it on a slide looked at it in a microscope, and said...oh yes...nice pink sand, carborundum, tokoyite, and nitrobium...now let me think...oh yes...(walks over to some victorian cabinet with a thousand drawers)...THIS IS IT. The balloons came from THIS ONE MILE STRETCH at coordinates 120.987987W 37.98797N and then the westerners BOMBED the launch site. The Asians have no CONCEPT of this kind of depth in their science, nor the people with the knowledge or capability, or sheer COLLECTION mass, that the west has, that has even BEGUN to be mined yet, and they never will. Just britain alone, has science and measurement data, on every damn country in the world on some dust shelves. Every animal, every artifact, every language, every weather station data, going back 500 years. This is invaluable data the East will never possess, because yes they have the money to do the recent stuff, but there is no possible way to replicate 500 years of science, EVER.
Further, asian is one hell of a MONOCULTURE, as far most individual countries goes. The west has done ALL of the heavy lifting as far as that goes, taking in refugees, etc, as that is the responsibility of the rich countries. Sure china has a lot of new billionaires, but they have almost no concept of social friction, and especially with immigrants. Imagine Tokyo being burdened with say 20million muslim refugees in the next decade, or beijing trying to educate 50 million non-chinese immigrants who have no concept of Confuscian methods, and are rebellious. The costs of EVERYTHING they do would skyrocket. Add to that, China's politcal system is juvenile, and the hope of china not breaking into several dozen pieces, as they accumulate say 10 or 20 times the wealth of american in the next century, are zero. Add to that the environmental disaster that most of Asia is, you have a recipe for war, death, and destruction, and htey wealth will instantly flee at the first sign of trouble. This trouble is inevitable. It is even more likely with the possibility of AI and automation. Suddenly the billion plus workers are completely useless and a few hundred rich people own everything and a billion have zero, and no hope of change, since there is nothing left to do. Let them eat cake, ring a bell. Let the slaughter begin.
There is also the sexual revolution to be had....
Japan is toast as everyone is a senior citizen.
China is not far behind but with sheer numbers, there are lots to take their place, but the future there in the long term is BLEAK, even though the next two generations will be ok for now. Quantum encryption will be massively bad for the government there as the public is suddenly able to have free expression and all the bribes and corruption will be laid bare, in a way that will make washington look like a lemonaid stand.
Another problem, is one that is peculiar to Asia, is that they have absolutely no sense of LETTING THINGS GO, history wise. Every slight is remembered, and is grounds for revenge until the umpteen generation. The western countries have been competing so long that they are like old drinking buddies recounting their wars like recounting good farts, like WWII was just a frat party that got out of hand, or old HENRY that fat bastard taking over Paris...good times..chug chug. China has no "friends". They are completely surrounded by people who, like one with "little man syndrome" can have, they absolutely want revenge on. China has been the laughingstock of the world for millenia, and they are out to prove themselves, now that the situation is right. They will never forgive japan for NANJING, india is a mortal enemy forever, russia is like one of those belligerent drunks that live next door that they need to keep a few other countries at bay, and southeast asia would cut their throats and take their wallets given the chance economically, and their relationship with AUSTRALIA is like that of an ugly hooker and an even uglier John. One has some money and the other the goods an neither want to actually TOUCH each other because of all the VD so to speak. Every negotiation with china is along the lines of "YOU SHOULDNT DO THAT we may not trade with you...see how rich we are sort of" they have no concept of soft power, and actually nothing of value to offer other countries except "hey we cheaper shiny toys" notice how you havent seen the latest rock band from Beijing, or that cool SCI FI movie burning up the charts, or the new translation of that cool romance out of ChenZen. Chinese culture is a one trick pony of martial arts emperor historical fantasy fight movie. Which is truly appalling since with all those people there should have been "THOUSANDS" of breakthroughs by now.
Asia has a lot of growing up to do, and I dont think it will happen in our lifetimes.