The China-US tensions are not going to get better, and, in fact, will get worse as years go by. More and more nations will be forced to choose sides. It's not good and I'm not sure what a resolution even looks like.
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As an European I don't what to think that the US seems so against kit from a Chinese company and completely fine with kit from an European company.
They should be worried about both. We also have a long term world domination plan (version 2.0)... ;)
While Obama made his move over SE Asia, the CCP applied the strategy they used in Australia with the PIGS. And while Trump very successfully destroyed what Obama tried to do in SE Asia, the CCP installed foreign military bases near center of trade in the Indian ocean while gaining political goodwill with middle east poorest countries. Most of Iraki oil is sold to China.
I'm not claiming i know what should be done, i'm just saying that China have already a lot of political allies and try to gain more, and now reached europe.