American foreign policy towards China has been abysmal.
It shows that after 9/11, a bunch of neocon morons thought it would be a great idea to emancipate America from Europe and especially Britain. 20 years later, two major wars lost, trust of Europe lost, no soft power, the toolkit has shrunk to military threats, sanctions or outright corruption of local potentates. The most identifiable goal of the state department is the militant promotion of lgbt and their embassies around the globe are either CIA cash drops for corrupt local politicians or lgbt flag zones.
In this general atmosphere, the contact with china has been basically do as we say or else. might have worked in 2000, but that's done now. it's over. america can't really influence what china does anymore. i don't even know when america was last smart in relation to china. maybe during nixon.
China is lost for the west. they will continue to develop in their own direction, create their sphere of influence, move away from the financial instruments of the west, which have become unreliable (that idea of confiscating russian assets and using them is fatal if actually implemented - why would anyone hold a dime in the western financial system anymore?), they will build their own with the russians, the middle east and others.
it's a shit situation. and us in europe can't do shit either. we've got some yapping poodles like macron that try to pump himself up when speaking about china, but in reality, we're a market for chinese products more than a real policy determinant towards them.