The biggest threat to China today, is the threat of playing up its cards.
China, especially under Xi Jinping has started getting restless, and forgetting the basic mantra of Deng Xiaoping that worked so well, "Hide your strength, bide your time."
It is trying to compete with the US in all areas including in currency etc. What it is forgetting is that these things take a lot of time.
The US became the biggest economy on Earth by about 1870.
It got a reserve currency only after the second World War, that is 80 years later.
Also, the US kept its population growing. By inviting immigrants of all stripes.
It is time for China ideally, to rest low, keep developing, and getting ahead, instead of trying to spark any war, or arms race, or challenging American supremacy.
Let the Russians do it. Russians are obsessed by the prospect of doing it, which has led them to reduce their nation from the biggest, and a truly modern and leading nation, to one which is in recession, where the life expectancy is exceeded by dozens of Asian Countries, which relies solely on using the fruits of its past conquests ie the resources which Russia relies on.