You are correct, we are far advanced technologically. Yet, I think the Chicoms will advance rapidly at a greater pace based on the U.S. government approved technolgoy exchange that was arranged during the x42 years.
Reverse engineering has a tendency to speed up progress that normally would have taken much longer if traditional development were used.
War with China is inevitable. Better to beat a mad dog when its a puppy than to wait until it becomes a wolf.