China has already won the trade war. People are in denial about how far things have progressed while they indulged in US exceptionalist/Libertarian delusions.

What we are seeing now is the quasi-managed retreat of US hegemony...seeking to preserve as much as possible of the remnants of western civilisations legacy as Trump can.

This doco on how Britain managed their decline is relevant-

But the USA does not have the advantage that Britain enjoyed, of handing over hegemony to a friendly power... Bitcoin and 'crypto' are perhaps going to play a role roughly analogous to the British tax havens...