This is gonna be the greatest fight of the century, and will last well after we are dead and likely stretch into the 22nd century. Any potential improvements under Biden (which I doubt) would be quickly undone by the next administration and the general power clash between peer western and non-western nations.
A cold war is not all that bad though, it forces all countries involved to devote ever more resources into R&D and industrial developments. Our lives would not be as comfortable nor would we have an understanding of the world and science that we do had it not been for the advances made in WWII and the subsequent cold war.
For one, we will likely see an acceleration to towards the roboticization of all aspects of Chinese life and society by 2030.
I don't think there's any need for exaggeration.
If we go by the Australian government white paper estimates, the Chinese economy would be twice the size of the US by 2035.
Plus China will have caught up in terms of world-class technology.
Then China should be able to reach 3x larger in another 10-15 years, given that the average Chinese person would only be half as *rich* as the average American. That is what happens when you have 4x the population.
And it would be impossible to contain the Chinese economy in such a situation.
For example, the Japan-China relationship would be similar to that of Canada-USA, given the disparity in power.
So I reckon the competition will over by 2050 at the latest, and that it'll be relatively easy for China by that point.