This is what I mean; the Chinese absolutely need the EU to be independent and not an American client / proxy. The United States / AUKUS / Quad / ABCA can sanction China all it wants, but as long as the EU maintains trade ties with China, the sanctions don't have effect.
As long as China still has market access to the EU, the American attempt to contain China will fail.
China vs the US as major hegemon is a timing issue / race condition. As long as the US doesn't zerg rush China between now and 2030, China will reach economic parity and be within 5 years of technological parity by 2030.
This implies the breakdown of the American World System as the United States, first, no longer has the ability to exert its will unchallenged, and second, it's no longer even the biggest consumer market.
Read stuff like American Tianxia. The United States' place in the World System is that it's the consumer of last resort; all countries wish to export to the United States and the American ability to deny other countries access to its markets and capital markets is the underpinning of the American World System.
However, for China to make it through to 2030 without an actual war, the place of the United States in the American World System collapses because now there are two suns in the sky.
Which is why I'm arguing that China will be effectively hegemonic; even if China refuses the hegemonic mantle (as is wise and prudent), China will end up being the world's primary market as well as its primary capital exporter. The underpinnings of the American world system will effectively have moved states.
The one thing I do hope the Chinese will do will be not to replicate the American disaster in Latin America; i.e, there will be a Chinese sphere as much as there is an American "core" sphere, but the American core sphere is filled with oligarchs and insurgencies, with poor human capital development in the region. The Chinese sphere, hopefully, will more resemble the European Union, because while there will be "poor" countries as much as Poland and Lithuania are in the European Union, they won't be treated as periphery states for resource extraction but as vital sources of Chinese power and thus worth developing.