I think you have anti-Chinese glasses on. Sorry, but our economy was on the verge of collapse.
Then I suggest you go and find out what an economy is.
We were on the verge of a large recession, not a collapse, what was in danger was a 'paper' loss of many assets. Economical assets in technology, trade and intellectual properties where not at risk.
And the proof is in the pudding, the economy did not collapse, that it didn't and for the reasons why is proof of it's robustness.
And it is questionable whether or not America is democratic
Hyperbole.
Regarding Chinese technology, a space programme is non trivial, and they have a high record of success. It indicates a high degree of organisation, technical skills and willingness to fund it. They have plans to land men (probably not women, they are too sensible to sign up) on the moon.
All it shows is that they are good at spending money/resources on worthless bondoggles.
America is not the de-facto superpower because it has a space programme.
You might not have noticed but a large proportion of electrical goods are made in China.
'you might not have noticed', no mate, it is the point I am making.
They are just a knock-off nation, we design them, we market them, they make them for us.
Even China knows this, which is why they are investing heavily in trying to become a consumer led economy rather than an export led economy.
The Chinese government are spending huge amounts in science and technology, and the times they are a changin.
Call me when they have actually changed then, because so far you still haven't named any technological or economic fields that they actually LEAD in.
Read the book "The End of The Party" by Andrew Rawnsley. He quotes many of the most senior figures in the UK who considered that the UK was on the verge of collapse. Cash machines closed. Cheques bouncing. People not being paid. Even civil war. It isn't hyperbole.
Regarding China, I think you will find they do lead in manufacturing. Enjoy your chauvinistic viewpoint but the Chinese will leave you behind.