China's current relationship with the US closely resembles the relations between the Han dynasty and the Xiongnu/Hunnic empire that raided it's border despite regular tribute payments from the Chinese. The arrogance of the Xiongnu knew no bounds, as they were the greatest empire in the world at that time.
History showed that once Emperor Wu of Han got into power, he enacted deep reforms of the economy and military, all whilst keeping his head low and still paying tribute to the Xiongnu - until the day he didn't.
The Xiongnu were eventually nearly genocided in a series of sudden and brutal annihilation campaigns by the reformed and militarized Han empire, that drove them from their ancestral homes of Mongolia, chased them deep into Siberia and Lake Baikal and didn't even relent on their survivors who fled to central Asia.
The Xiongnu wandered westwards, evolved into the Huns who eventually sacked Rome under Atilla, and still live in Hungary to this day.
Roman parents told their children that if they don't behave, the Huns will come to kill them.
Hunnic parents told their children that if they don't behave, the Chinese will come to kill them.
Take this history lesson as you will, as China has extensive historical experience dealing with barbarians who think they they the greatest and mightiest.