This is going to be a firebomb in the world economy, but yes, it is inevitable.If China is not fully, completely, 100% ready for this hard decoupling then it really only has itself to blame. There's been PLENTY of warning since 2018.
The PRC should be ready for it, we saw it coming.
I think that this is a very big opportunity too, for China to leverage its position in the World economy, and the current US vs ALL feud and actually become the source of stability and trustworthiness worldwide. Essentially taking the place that the US already forfeited.
Now is the time for them to actually come closer to what we tend to list as traditional US allies. And use a tiered and stepped gradual approach towards converting them.
This might fail with some, but - I'm willing to guess - not all.