If there is any upside to our current way of looking at things, it is that we are overestimating the potential for anything to turn into a flashpoint. In reality, I see far more danger in those areas where it is unexpected, like Trump's overture to Taiwan.
There are in fact greater dangers where people take things for granted. And this is why some China watchers can be concerned.
The US may think it can get away with some of these things because of the integration of the global economy -- but that may not be the case.
Also China is facing some difficulties in finance -- its ability to dump US dollars has been somewhat reduced so economic revenge is not as easy.
The strategic situation may be seen by the US as positioning whereas by the Chinese it is basic survival.
There are reasons to be worried that both China and the Us could box themselves into a conflict neither wants. Familiar?
US could mishandle Russia in a similar way and take for granted all could be well when it is not.
The US has an impression of itself that is shared by a few key allies but this i not how the rest of the world looks at it and they are a lot more threatening than they are willing to admit.