Many Americans and Westerners deeply want China to fail because they feel that they deserve to be on top of the world, and China is the only entity (besides Russia, which they also hate but which they look down on more) challenging that right now. The notion that all nations everywhere deserve to be equal and not under the thumb of the Anglo-American axis is profoundly threatening to them.
Their biggest fear is that China has the world's best companies and universities, and that China essentially becomes like them. Take it from one of their elites:
Their biggest fear is that China has the world's best companies and universities, and that China essentially becomes like them. Take it from one of their elites: