Unless China knew the US was planning a first strike on them or was planning to invade Taiwan and knew the US was going to defend it, I don't see them dropping nukes on us. That said, I saw recently that Russia is planning to dump their reserves of US dollars/bonds and buy up other currencies and bonds, with most of it being the Yuan and other countries are looking at doing the same thing. That flooding of US dollars on top of the slow inflation spiral we're in would be a disaster and one banks and Wall st would go to war over.
That aside, I have no doubt that China and others are going to do cyber attacks, go after infrastructure, etc. to rile up the people in the US who are as divided today as they were in the 1850s and the Civil War. They absolutely would want us fighting each other so they don't have to do it and killing the electric grid for 6 months, poisoning water in big municipalities, blowing up refineries, critical sectors of the economy getting hacked etc. I think that's already happening, maybe not all from China, but it's coming from multiple sources.
The most troubling thing is we don't have motivated go getters who can effectively oppose the threats we're facing from foreign adversaries because they're either corrupt and controlled by said adversaries or they're so indoctrinated they can only focus on domestic threats.
If China is doing anything, they're saber rattling. They have their guy in the White House, they own the California Democrat party (and thus Kamala and Pelosi), the corporate owned media who all have interests in China for their movie studios and other entertainment interests, plus China probably has quite a few judges in the US in their pocket, so they're all set. The only thing that would disrupt all that is these election audits giving concrete data that the 2020 election was the most fraudulent election in US history and everything has to be scrapped, everyone who was an incumbent who ran for re-election has to be re-instated which would mean Trump returns as President.
That I could see China hitting the US with a first strike over.