It’s not quite that simple. The American national motto used to be ‘fake it until you make it’, where reality was suspended a little to make them seem more powerful than they were. But they weren’t far off that power level, and was advancing so it was only a matter of time until they attained that level, so never got found out.
The problem today is that America is no longer on an ascending trajectory, but a descending one. Thus the motto has been forcibly changed to ‘fake it until you get found out, at which point lie and spin and distract to mindhole it and move on asap’.
Thus rather than being a useful tool to cow the competition and win extremely close races, America’s propensity for lying is only putting itself in deeper denial about the state of its decline and avoiding doing the hard work of trying to arrest that fall.
This is both a gift and a threat to China. It’s a gift because America is making it much easier for China to surpass it. It is a threat because America doesn’t and couldn’t recognise how much the power balance has changed, and may start a war it cannot win thinking it will be a cake walk and then be forced to turn to nukes when they get spanked completely in the conventional fight.