Very unfortunately, they have passed escape velocity and there is no turning back.

Unfortunate in what sense?

   And I am not sure how the West or even the rest of the world can do about it.

The last 200-250 years seems to be an abnormal period in which China was not a superpower. Historically, China has always had 25-40% of the world's GDP. It's been so long that many generations have lived and died without seeing China at the top. I think it's kind of neat for this generation to witness it.