I guess China certainly dont see any point of staying under the western led world order anymore, since the west demands conformity that essentially require China to stop developing her economy and technology. A world order that deprive non western players of the rights from winning the game by the rule is not one that is open and equal.
The West certainly does not require that. The reason for the West's actions is the hardline moves of the CPC. If China moved towards liberalization Huawei would be on the path towards hegemony in 5G right now. Most likely what will happen is India will overtake China and take leadership of the world order now. It's the CPC hardliners who have ruined China's chances.
Source: Have lived in the West for 30 years, studied their attitudes towards outsiders closely. Half of them truly believe in idealistic principles that allow outsiders to succeed and lead. That would have been enough for an ambitious and capable country like China to take the reigns had it played its cards right and not pissed off even the liberal ones.