A battery, a chip and software
It starts with cars, but this is going to happen to every important industry and product category. Today building cars is closer to building smartphones than complex internal combustion engines. Cars will consist of a battery, a chip and software. That trifecta will be at the heart of most physical products, and ability compete depends on how well you do in those three. Expect most industries resemble what used to be limited to electronics. Put in an other way, most if not all industries will become electronics.
China already dominates batteries and after DeepSeek they are at least on par with software. US restrictions on chip imports has given China a strong motivation to build their own leading edge chips. The country has shown to do incredible well when it determines some technology is critical for its success.
By this account, a country's success is downstream of technology. The free world would do well to be just as decisive as China on prioritising technology leadership.