It's "fun" to speculate on the big Chinese bear (I grew up with the big Soviet bear)...
However...look at the picture from all angles and ask the BIG question: What would be the benefit for China from a military confrontation with the USA?
Answer: NOTHING.
Numbers are great...etc...etc...but if you do a bit of digging into what it is China wants, truly WANTS, it gives one a totally different picture. China wants to be a "Global Peer." SHORT definition: think SUPER power.
The true challenge they face is that NO nation has ever become a global peer without a major military conflict. Think global war, or very close to it.
China said they would become a global peer through economic success and NOT military conflict. And that makes sense; especially when you realize that the only real nation they would have a conflict with would be us. And that has NO beneficial return for them.
So...they go to war with us economically. Sure, they taunt our ships, harass our aircraft, etc., but SO WHAT? That's nothing but a sound bite for the news. At the end of the day, they show they can pretty much do whatever they want, short of conflict, and we can't do anything other than complain.
Just an FYI...we in the military are NOT unaware of this; it was a MAJOR part of my full year of Air War College. Folks are watching this and working on "how do we deal with a new peer?"