To a point, true. However, China has a 50 year economic plan and rumor has it other plans going further.
They have achieved that goal quite well. To the point that nothing we do can stop them, short of military conflict. Even then, we are involved in so many conflicts that our resources would be insufficient. Add to it China and Russia are allies. North Korea would get involved.
Even if it does not come to that, this trade war is slower but no less deadly in the long term than nuclear war because of the ultimate decimation of the planet.