A lot of political leaders are realizing that the communism of China, while different in many ways to the Soviet variety, is still incompatible with the USA.
It seems like a national pride thing that China cannot be subservient to the US, and the US can't survive a world where it's billionaires aren't in complete control.
There's maybe a synthesis where the Chinese billionaires take over America? That way it's still wealth in charge in the US, and the Chinese in control of china
China's specific ideology is irrelevant; "Capitalism with Chinese Characteristics" or balls out Marxism won't change the fact that the CCP needs to feed and manage a billion people. They will eventually engage in aggressive, even ruthless, behavior because they have to; 'tis the nature of Realpolitik. National pride and ideology have nothing to do with it, hegemonic competition is inevitable.