I think China realizes that war would kill their trade with the US, leaving several hundred million workers with no one to sell to.
China & Chinese workers LIKE having US dollars or at least US IOUs to spend.
This is not to say that there are not many Chinese generals & admirals who would love to see a (how do you say, “Blitzkrieg” in Mandarin?) war?
閃電戰
Jeez, everybody knows it!