China and America evenly matched militarily. The difference is standing in the world: Xi exceeds Trump. Two other factors: China’s axis is completely unified: Russia, Iran et.al. US allies are disgraced by US leadership. Last, China can inflict financial discomfort. The US can’t!
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Trade is natural. War is not.
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If trade war between US and China comes it shall affect global trade and also shake WTO rules. But the way China is engaged in unfair trade practices and stealing IPR, we all should welcome it.
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China owns so much US debt now versus back then, they already have the upper hand (not even taking into account Trumps incompetence).
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I think Trump likes war...
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