Moral stances aside, I'd argue it's healthy that the US gets competition from abroad. I appreciate the boost that the world is getting from China - infrastructure and construction projects are a huge benefit to economies. Their focus on green energy has caused a huge influx of affordable solar panels, home batteries, EVs, etcetera, helping reduce the dependency on fossil fuels - while the US and especially the other big money spenders in the middle east would rather the world remain fully dependent on them. But for the past years Europe and now Asia are feeling the pain from being overly reliant on that.

China's policies and government aren't morally defensible and I do fear that they will become more aggressive in spreading their influence and policies onto other countries, but from an economic standpoint what they're doing is super effective. While the previous world power (the US) is stuck in infighting and going through cycles of fixing/undoing the previous administration's damages, instead of planning ahead.