Agreed on your final point US would dearly love to contain China. But, I think that train left the station 10 or 15 years ago. G-2 is still possible, but Washington is running out of time to negotiate for a workable deal where US maintains strong presence and China gets to co-lead Asia.
Well, in my opinion, it's never realistic to contain a country the size of China. You may delay its eventual rise but can never completely contain it. It's simply physically impossible.
How many China-sized nations do we actually have in the world? A country managed to grow to that size for a reason. A large country typically has a large population, which translates to a large market and potential for significant development and less dependence on foreign influence.
It also means the land has enough resources to sustain a large population. Otherwise, major conflicts would rise from within enough times to cause the entire country to collapse and split into smaller nations. This is actually what happened to the Soviets. Sort of like collapsing under its own weight.
It also means geographically the country must have enough defensive advantages to protect itself. Otherwise, with its rich resources, it would have been invaded so often that it eventually becomes impossible to maintain sovereignty. Then split into smaller pieces.
These factors alone make it almost impossible for any opponent to hinder these gigantic nations' development long term. They might lose their ways temporarily for a few decades but will bounce back because of large population and rich resources. Of course, it will take a long time for them to grow if they have to do it on their own but it'll be like turbocharged when they get some help from elsewhere.
The fact that China has been developing so fast is actually a testament of China's tremendous geopolitical advantages. It's like Michael Jordan getting his favorite sneakers. MJ can still dunk with easy even without shoes. But with his favorite sneakers, he will fly. Guys like you and me? We can't even touch the board even with MJ's personal Nike Jordan.
Its extensive defensive advantages also makes actual attempts to contain it become so difficult and financially and physically prohibitive.
A country with the size of China or the US is like a freight train going downhill at 100 mph. You may be able to slow it down a little bit but impossible to stop it. Plain physics.