Is it me, or is the US a little bit obsessed with China?

Am I too naive, or what's the big deal about it? What does it mean for the US to loose or to win?

Is the US trying actively trying to replace/control the CCP? Is the CCP actively trying to replace/control the US govt? Both?

Are the people from these countries at risk, or just their governments?

TLDR: China is now more capitalist than the US when it comes to tech.