China has historically always been a leader in Asia. At its peak, it controlled an empire as vast as the entirety of the EU. Its cultural influence in Asia rivals that of Rome in the West, except that Rome is no more, but China still is.
The US is younger than a single Chinese dynasty. And like all great historic empires, with Chinese ones being great examples, the US is fracturing from the inside. Corruption, apathy, a false sense of exceptionalism, etc.
China has went through this rise and fall dozens of time. This might be the first time for the US.