It's probably true that free enterprise helps a lot, but China has that in large part. Even though the CCP calls itself communist, China is very capitalist in a number of ways. But I guess China is showing us that capitalism can exist without democracy.
That'd be the belief in good old American exceptionalism. Up until recently, a common meme on HN was "freedom" is fundamental to innovation, and naturally the country with the most Freedom(TM) wins. This even persisted after it was clear that DJI was kicking all kinds of ass, outcompeting multiple western drone companies.