I imagine when China starts playing hardball with the U.S. on trade, the debt, Taiwan, etc. it would make it more difficult for them if they were “allies” with us in this Pacific group.
The US still has the PRC by the short hairs, and should have them for quite a while longer.
If they want to try playing hardball, it will not go well with the public - for any public official going along with China would end up losing an election.
Now if Nixon hadn’t opened the dialogue with China in the first place, or had the US decided to use Tiananmen Square as an opportunity to replace a (still) despotic regime, the problem wouldn’t be as bad as it is now. However, the US decided on appeasement and this is the consequence.