Well, it might be better for the US, but I'm not sure that having China as a replacement trade partner is going to be any better for the people in middle east. Just looking at the places where they have gotten involved in Africa, it might seem like a good deal at first, but there are definitely strings.

But, regardless, it definitely is a much more hands off approach. Its kind of like Arrakis in Dune, as long as the spice (oil) flows, nobody cares about the inhabitants.