Pardon my cynicism but how exactly do people think that this Great Powers struggle can be resolved peacefully when all evidence points towards the contrary? The US is ruled by a cabal of psychos.
A couple of reasons, to say the least.
1. Most empires collapse within. What exactly is the condition of America at the moment? They are broke. We see how this plays out. Historically, the same thing happens over and over again. That is what I am worried about. Not some war. This is the position of the CCP too, I believe. When they talk about America's decline, that is what the CCP is talking about.
2. There must be something to fight over. They were fighting over something, such as trade flows, and Huawei 5G, and sensitive technology in general. How are those fights going for America? Notice they do not harp on the phones anymore. There is not much further for this particular fight to continue on.
In the end, there are really two important points. There is no end game for the Americans. They think they could win easily in trade war and tech war, that once it goes sideways for them, it is game over. They do not have a plan. The other important point, is that it is still all about Taiwan.