China does not treat us as a partner any more than we do them. They have spent decades exploiting good will and abusing any attempts at genuine partnership. I don't blame anyone for looking for alternatives to the US in the current climate, but I doubt they'll find a better partner in China. Perhaps more reliable in the short term, in the long run China will try to run the same extraction game on its new "partners" just as it has done in the US.
Don't get caught up in their "thousands of years of history". They had thousands of years of history before Kublai Khan, they had thousands of years of history before the first opium war. They still have issues with older citizens stealing toilet paper from public restrooms because they were so heavily traumatized by Mao's famine, and Mao himself would probably have had you re-educated for suggesting he had any historical ties to Imperial China. The current leadership are the successors of that government.
The Soviet Union's fall was hardly self-evident before the 1970s, for some decades their GDP growth was surpassing the US. Khrushchev's aggressive speeches are now seen as naive bluster, but there was some hard data to back them up when he made them. The US adapted, as we always have.
I'd say the US has a number of structural advantages over China that it is currently squandering, but that won't always be the case. Demographically we're going to be the last major consumer economy standing as the century winds on, we maintain the strongest military in the world when fully committed (Iran isn't even half-hearted, it started out as an unpopular war and nobody wants a land invasion), our natural resources are plentiful, and neither the Euro nor the Yuan nor gold are capable of replacing the dollar.
Sure the Trumpers aren't going away, but they are fundamentally incapable of governing and have no real successor to Trump, who is fundamentally incapable of grooming a successor. They were politically irrelevant for the longest time, and only matter now because the establishment failed to maintain living standards. They lack discipline, organization, intelligence, and numbers. All they have is a blatant disregard for any rules, including their own; the longer they're in charge the more enemies they make. Like the communists who attempted to take Berlin by force in 1919, they will wake up one day to find themselves having crossed a line with far less support than they imagine. I doubt they'll take it well, but they won't last.