A large part of that uplift is due to massive US investments. US leaders knowingly sacrificed a lot domestic industry in order to build up a China that we thought would liberalize and act to counterbalance the Soviet Union.
What should have been a cause for solidarity and cohesion and mutual uplift, and was functioning that way until relatively recently, has turned sour. China is starting to stagnate drastically, and we have not managed to create the service economy in the US we thought could sustain the middle class in spite of the transfer. The demographic issues in China were created decades ago, as were the supply chain issues affecting the global economy. The massive real estate fraud also didn't help. Instead of actually working to productively address these issues, Xi has pumped up nationalistic rhetoric, is clamping down on business, and seems hell bent on returning to a Maoist cult of personality.
These problems will not be addressed by chest pumping about which dysfunctional system is less dysfunctional, or which past glories are brightest. The present requires focus on the problems we have in front of us, and are best addressed with eyes wide open and a hard look at the practical problems in both the Chinese and US economies.