China could also use the US’ dependence on it as leverage to discourage them from intervening in Taiwan. We just saw this play out with Russia’s invasion of Ukraine. We routinely see Turkey threaten the EU with migrants over the bloc’s reliance on Turkey. We also saw Azerbaijan make a move for Artsakh knowing the EU needed their gas following the invasion of Ukraine. I believe China would prefer being able to extort the US rather than face the possibility of fighting an unbowed US.