As both countries rising debt, every piece of move counts. World war 3 is no longer a military option, but rather in a way of subtle form in power. Both countries armed with economist, hacker, businessman, scientist, spy, geopolitic advisor and other discreet weaponry. One thing is certain, whether the US remains on top nor China will take that position.
There are approximately $20 trillion worth of debt by the US government, following the sequence of war and economic collapse, bailing out big corporations by uncle Sam's niece. While China owns more than $1 trillion worth of US debt; causes the Renminbi( Chinese currency) devaluation, which result to a cheaper export products to America(one of the biggest customer of China).
Meanwhile the US government looking for a way to isolate themselves from global free trade, as response to China's vision of globalization. That shows the US stepping down as global leader, after the output from hegemony that leads to miscalculation, following what happen in middle east. Losing track on trades, deficit rises, left with a choice of printing money. And the US government are trying heal themselves from inflicting wounds; helping micro businesses, rebuilding its infrastructure and cutting taxes with the hopes of fixing loopholes.
With the rising global equity market prices and interest rates; China's diversification to other form of asset classes like gold is safe a play. While China is setting up as global leader in terms of soft power, and an increasing middle class consumers, funding One Belt One Road Initiatives project is a bold move and expensive. As debt soars, China became more and more riskier than ever before. Investing money on developing countries is another form of risk that can be a burden to them. As long as it maintains their sphere of influence towards neighboring countries with a promising future, throwing a money is a no big deal.
If we go back in time, we see the evolution of geopolitics, handing power from Egypt, the vikings, ottoman empire, roman empire, so on and so forth until the US claim the power, in the end certainly, "the ones who's left are the ones who's right". - unknown