Im worried that China isn’t content with that. Their stated goal is to become the next global hegemon, and we can see that they desire to establish their domestic rules abroad as well.
Around the world they establish secret police stations to monitor their citizens living abroad, and to ensure their narrative is dominant in western media (most recent examples: China bitching about unfavorable reporting in Canada, and the completely insane agreement Hungary made to give Chinese police actual law enforcement powers in the country.
Also, two competing spheres in the past developed into the Cold War. I’m not really keen on another super polarized world.