I just think that the US is acting in dangerous, half-insane desperation at this point in time. The US, under the senile Joe Biden administration had delivered on almost all of its major threats so far. They had threatened to: impose the ultimate sanctions on Russia, blow up the Nord-Stream pipelines, send heavy military equipment to Ukraine, send Pelosi to Taiwan, and shoot-down a Chinese balloon.
Biden at this point had not yet threatened to go directly to war with Russia. But Biden had threatened to defend Taiwan against China. What exactly does he mean by that, we don't know for sure. But the Chinese top brass should not take any chances. Exercise, and be ready for war with the US. We don't know how stupid the the US can get, especially the Republican stupids, who have successfully pushed Biden into doing reckless anti-China stuff. The moment China see some new developments in US military deployments around it's neighborhood, it should start to go into a semi-wartime economy, like Russia in recent times. Time to stockpile on materiel, manpower, ammunition, and emergency stuff. China can mobilize for war much faster than any 'democratic nation'. But it's better to be safe than sorry. The US can no longer be trusted to be rational these days.
Remember that there were multiple papers in the US, dating back to 2016, setting the date for war with China by 2025. 2025 is that magic year for war that the US is telling everyone. Remember a recent memo written by USAF general, Mike Minihan, calling for war with China by 2025, and saying that the US should 'aim for the head'. Was that a call for nuclear first strike? We don't know for sure. What we do know is that the US is not making the same type of threats against Russia. I think because Russia has a declared nuclear arsenal powerful enough for the US to rule out any nuclear first strike. What China needs to do very soon, is to deal with this perception by the US that it can win a nuclear war with China. There are big progress on the hardware front, but China needs an official declaration to the US. Tell them that China's nuclear arsenal has been updated, and it's not trivial. No need to give numbers, but tell them that it is big enough to end the whole of the USA. And if the US tries any decapitation strike, China can still respond with a devastating second strike. China does not have a history of bluffing, so the US will have to take this threat seriously.
Is it better for China to not get into an arms race? Absolutely. But the arms race of the previous Cold War was more about power and dominance by both superpowers. For China, this current arms race is about survival, not domination. There can be no greater justification for an arms race than that.