The US got too involved in too many wars for the wrong reasons and we got weary of them. China sees this as a weakness (admittedly).
If the US does not flinch, no one else will and we won’t and no one else will.
We know terrible things are happening en masse in Xinjiang, Iran does terrible things to dissidents, north Korea does terrible things.
China and N Korea have nukes. Iran is close. In the and no one will do anything if they decide to fully bare their teeth.
Economically it’s a “commons” no one is willingly going to leave because it’s leaving too much money on the table. In a globalized world, companies really heavily influence foreign policy. These companies want the printer to stay on.
They may do themselves in, but that’s on them.