The rise of Chinese research labs is accelerating tech breakthroughs across a broad array of fields. It is leading to a new era of abundance based on cheap energy, new materials and their applications. The US-led tech embargo against China helped jump-start its investment in research. Breakthroughs are accelerating and being turned into efficient scale production. This could be the most important dynamic in shaping the 21st century.China solved its food self-sufficiency problem in the 1980s with free market reforms in the rural sector. It solved a shortage of manufactured goods in the 2000s by becoming the factory of the…