His following video explains pretty well on why a trade war might happen between the Western power and China due to the pressure from the local automobile industries’ lobbying. Although ultimately the sources have liberal biases, their anxiety over the loss of domination over car industry is real. This should be a good bookmark for everyone that want to learn about how imperialism look like and work complement with Lenin’s work on Imperialism: The Highest Stage of Capitalism.
It didn’t, and China isn’t socialist.