Have you ever wondered why China doesn't have allies in the sense of 5 Eyes or G7? It's because this strategy of alliances was attempted 2,200 years ago under Horizontal and Vertical Alliance systems during Warring State. It turns out that alliances are extremely unstable and difficult to keep together because members of an alliance generally don't have their interests exactly aligned, so the target of the alliance could use this to destroy the alliance from within and then defeat the alliance members one by one, often using the strength of the alliance against itself in the process. The State of Qin demonstrated this long ago and PRC is doing it again today, as you see with this deal.
If you consider Horizontal and Vertical Alliance as "Chinese diplomacy 1.0", since then China has come up with 2.0 (Tribute System) and today's 3.0 (Common Destiny of Mankind). The US is trying to use 1.0 to defeat 3.0, how likely do you think that is?
If you consider Horizontal and Vertical Alliance as "Chinese diplomacy 1.0", since then China has come up with 2.0 (Tribute System) and today's 3.0 (Common Destiny of Mankind). The US is trying to use 1.0 to defeat 3.0, how likely do you think that is?