One thing the U.S. (and Europe) still deal very well is branding and messaging. Most of our electronics are designed and made in China, but they are still branded and sold by western countries. The U.S. is still adept at manufacturing brands, lifestyles, identity, and "cool".
While China developing it's own technology was practically inevitable, it will be far more interesting when they begin influencing what people want.
Most of our electronics are made in china, many are definitely not designed there. Anything made for Apple definitely isn’t, most American branded electronics aren’t either. If it is designed in china, it will be obvious by the Chinese brand (e.g. Lenovo); the only big foreign company I can think of that lends its brand to Chinese designs is Nokia.
Well actually a lot of things that say made in China are actually just assembled there. Like the essentially all of the core components of the iPhone are made in Japan/SK/Germany/US and then shipped to China to be put together.
While China developing it's own technology was practically inevitable, it will be far more interesting when they begin influencing what people want.