China may have a few "ooh aaah" projects, better cell phonse and more flat screen TVs, but after living here for 8 months, I don't agree with your conclusion. It isn't fair to cherry pick one or two examples, when they are unique and not characteristic of the average.
You mentioned the maglev train. Well that is nice and fancy, but how many Chinese cities have even regular metro systems? Beijing, Shanghai, Shenzhen, Xiang Gang and Chongqing, IIRC. How many US cities have metro systems? New York, Boston, DC, Atlanta, Baltimore, Los Angeles, San Francisco, Cleveland, Chicago, Philadelphia and Miami. Possibly more I'm forgetting.
So maybe the shiniest tech in Shanghai is impressive, but if you average it out with what the lack of technology in most places, I still think the US comes out ahead.