China is extremely attractive to businesses because of its gigantic market. There are tons of cars to be sold in a country with over one billion people. Tons of phones. There are tons of chinese hotel guests, chinese search requests, etc.
The US refuses to see China as a strategic threat, and only as a economic challenge. Australia is looking into getting 16-32 submarines ordered right now, to cover for future defense outcomes. Aus and the SEA middle powers are having talks about obtaining nukes simply to prevent them being used against the countries.
China is projected to grow to be double the size of the US's econony. China is willing to spend those benefits in the south China sea and on BRI. Make no mistake about the military of China. It is a concern. This is as big as power politics get.