China and U.S. and the Economic Competition

China and U.S. has been trading partners with each other, but there has also been a lot of economic competition between them, including strategic investments, technological research, as well as more recently, trade wars.  Now, there also seem to be competitions related to various economic initiatives with trade partners, as China has done with the Belt and Road Initiative.  In the U.S., there has been more push towards trade embargoes and sanctions, as well as national security-related push to prevent Chinese companies with ties to the Chinese government.  There seems to also be more difference in long-term economic strategy, which has been heating up the conflicts in hegemony and influence over different regions in the world, such as the South China Sea.  This seems to be a parallel in terms of economic competition as well as hegemonic competition between the U.S. and China.