China is going to go down. When my dad was young people thought it is their obligation to work hard and get little so they build heritage to their kids.
When my older cousin was young, people thought to catch up with the western they need to work hard for the nation. At their age, being a good student and a good worker was an honor.
When I was a kid, people thought being idols and hippies is cool, studying hard is what only nerds do, but at least there are people like me who want to be nerds.
Nowadays the new generation think completely different. Most of them have no interest in engineering and science, and what they want to do is to learn "how to be success" and how to get money from the others, rather than actually creating values.
When I was in middle school, I can at least talk to someone who shares the same hobby with me, and I know some local engineers, plus I can actually buy books and magazines about EE as a hobby.
Then, a couple of years later, the engineering community around me has shrunk so much that finding someone of the same kind is so hard. Books and magazines of STEM are dying, and being replaced with business and financial books.
Once at a time, I can walk into a bookstore and read for an entire day in the sea of thousands of different engineering books, while nowadays at my hometown, there is not a single bookstore carries more than 100 different EE books. People simply don't like to learn any STEM things anymore.
I see this is inevitable as a side effect of economical development and open up -- there are more ways to make money, faster and easier, than doing science and engineering. However, that also means brains that powers the country will be insufficient, sooner or later.
So my prediction is, as soon as those born in the 80s or 90s become old enough that they can not, or are not willing to work at the front line (say, 40 years old), which is in the next 5~15 years, R&D in China will slow down quite a bit.