I'm still not sure what any of this has to do with China helping start an Asian alternative to the World Bank or making free trade deals. Both of those have plenty of positive benefits globally by stabilizing countries and improving the lives of hundreds of millions still left in poverty.
It seems entirely vindictive, without a real end goal, merely because the West (not just America or their current exec branch [1] but the west including Canada, EU, Australia, etc) completely failed to change China's political policy by other diplomatic bullying/force so they are extending it into the global economic system designed to help smaller countries and the extreme poor, attempting to box out China and others participation. Which ultimately has no noticeable affect on China, so there are only losers as a result, the small countries in need of capital and trade.
The West completely messed up the TPP via back room deals and other corporate hand outs which destroyed everyone's trust in its intentions. Which killed off their best counter balance due to their own self destructive anti democratic habits - which again started before Trump and was due to die regardless if Trump won.
1. This isn't just about America nor has the West's policy towards China hardly changed due to words of the US executive branch for 2-3yrs vs reality of the last few decades and the massive multi country beaurcracy that runs the world Bank, UN, and others.
Once Trump is gone people will quickly remember that Obama and whoever comes next faced the same impenetrable wall that sovereignty, economic weight, and significant cultural differences that exist including a well perfected anti western propaganda that they reflexively employ to explain away all the bad things that happen, something dictators from ISIS to Venezuela has utilized as excuse #1 forever, which makes any western good will very difficult to exploit. Not to mention the limits of power that one executive branch has to change policy in other countries (which is a good thing) is significantly overstated.
Even a no strings attached trade reform is a difficult ask for the west. If the US added a bunch of human rights stuff they wouldn't even get in the negotiation room. But apparently people think that will magically change with another US election.
There was a long string of failures attempts to force human rights and democracy on other countries. There's far more bad examples for every good South Korea, Japan, and Taiwan (which are successes that have as much to do with historical trends, local culture, and domestic economic influence than it was pure diplomatic influence towards a western style gov).