During the Lunar New Year break, I exchanged greetings with friends and shared an observation: “China has moved from ‘rising’ (a verb) to ‘rise’ (a noun)”. The rise, albeit still tentative, is no longer a trend but a reality.

Indeed, 2025 will be remembered as a year of significance – a year when China emerged from a winter of sanctions into a spring of triumph.”

This is great news for the Chinese and for the world. All things equal and without any major disruptions such as a huge natural disaster, China could be expected to continue on this positive state and emerged in a leading position by 2030.

Futile trade war

After years of US sanctions aimed at stifling its technological progress, China has not only weathered the storm but turned adversity into strength.

The sanctions, once seen as a formidable barrier, proved futile.

In response, China accelerated its innovation engine, achieving remarkable self-sufficiency in semiconductor production.

Billions of dollars’ worth of semiconductor chip imports have now been replaced by domestically-produced alternatives.

Once the world’s largest importer of integrated circuits (ICs), China imported over $430 billion in chips in 2021, surpassing its oil imports of $250-300 billion annually.

What was once a strategic vulnerability has become a testament to Chinese resilience and ingenuity.

The air has been filled with news of serial technological breakthroughs. From quantum computing to AI-driven applications, China’s innovation landscape has reached new heights. Factories that once relied on foreign technology now hum with machinery powered by homegrown chips.

Even in popular movie culture, Chinese made animated Ne Cha 2 is becoming a global blockbuster; is now the world’s highest-grossing movie of all time in a single market, racking up a staggering $1.4 billion in ticket sales in China since its January 29 release.

The Chinese production is also the first non-Hollywood film to break into the all-time global top 20 of highest-grossing films.

This year’s Lunar New Year carries a special resonance – not just the start of a new lunar cycle, but a symbolic victory lap for a nation that has endured centuries of upheaval and suffering.

DeepSeek changing the AI game

In early February this new year, the launch of DeepSeek’s R1 AI model sent shockwaves through global markets, particularly hitting major US technology companies.

Nvidia, a leading semiconductor manufacturer, experienced a record $589 billion market capitalisation loss – the largest single-day drop in US stock market history.

The ripple effect extended beyond Nvidia. Collectively, US tech stocks lost a staggering $1 trillion in market value, with Microsoft, Meta, and Alphabet all seeing significant declines.

Investors scrambled to reassess their positions as DeepSeek’s cost-effective AI solutions challenged the dominance of established tech giants.

The AI bubble, inflated by speculative enthusiasm, burst under the weight of DeepSeek’s real-world performance.

This moment signals more than a mega financial event; it marks a tectonic shift in global technological leadership.

China, once the “factory of the world”, a follower in technology, now leads in AI and semiconductor innovation. DeepSeek’s open-source approach places it on the moral high ground, challenging the monopolistic nature of big tech’s megacapital-driven strategies.

As fireworks light up China’s skies, the mood is one of pride and cautious optimism.

The rise is no longer a prediction; it is reality. The world watches, taking note of the resilience, creativity, and relentless determination that define China’s journey from rising to risen.

Heroism: Western saviour vs. Chinese perseverance

The global narrative of heroism often contrasts Western and Chinese perspectives.

Western heroes, particularly in the American archetype, are often individuals who save the world with superior resources, technology, and charisma. In contrast, Chinese heroism is deeply rooted in collective perseverance, overcoming hardship, suffering, and oppression as a community.

Determination and precision in execution had also uplifted hundreds of millions of Chinese from poverty.

A saying that has guided the reform and opening of the last 40 years, “When confronted with water, build a bridge; when faced with a mountain, build a road.” (逢山开路, 见水塔桥).

A compelling example is the construction of the Hong Kong-Zhuhai-Macao Bridge Tunnel.

When Dutch consultants quoted a US$300 million fee, the Chinese team led by Engineer Lim Ming turned inward. Using home-grown innovation, they completed the project, showcasing self-reliance and technical prowess.

In a symbolic gesture of respect, the Dutch later invited the Chinese team to Amsterdam, hoisted the Chinese flag, and played the Chinese national anthem.

Such stories are abundant in modern China. From high-speed rail, electrical vehicle, lithium battery, robotics to renewable energy and AI, these achievements reflect a collective will to overcome adversity.

This perseverance is fuelled by a historical memory of hardship and a vision for a renaissance of Chinese civilisation.

The younger generation of Chinese engineers, scientists, and entrepreneurs now carry this legacy forward, working harder, with fewer resources, yet consistently pushing boundaries.

The younger Chinese are also working with a new level of confidence, making full use of better global knowledge and better tools and equipment, and a vision that that goes beyond material gain or profit.

Inspiration for the world

These contrasting narratives enrich humanity’s collective quest for growth and progress. In this era of technological rivalry, China’s story of overcoming hardship and achieving breakthroughs inspires a reassessment of what defines heroism and success.

China has transitioned from follower to leader. As DeepSeek founder Liu Wen Feng (刘文峰) said, “China will no longer just be a follower, just commercialising Western technology; we move forward as innovators, contributing to the world.”

This shift goes beyond technology; it extends to lifestyle, culture, and values.

China’s open-source initiatives and the Belt and Road vision of a shared future reflect the realisation of Dr Sun Yat-sen’s Great Nation Spirit: “Cultivating individual character, building the family, advancing the nation, and contributing to the world – the world as one.” (修身, 齐家, 治国, 平天下 – 天下为公)

With East and West sharing leadership in this new era, the world stands to benefit from a richer, more balanced, and inclusive growth.

(Foong Wai Fong is Founding Director of Megatrends Asia. She worked with world-renowned futurist John Naisbitt on Megatrends Asia, published in 2000, which successfully predicted the rise of China and Asia.)