It goes both ways. The current supply chain crisis already demonstrated how reliant EVERYONE is on Chinese manufacturing. No politician would dare to sanction China when it means immediate runaway inflation.
https://en.wikipedia.org/wiki/List_of_the_largest_trading_pa...
China is 15-25% of the trade for those countries, but the west-aligned countries represent 80% of China's trade. A coordinated trade war would be vastly more devastating for China than the rest of the world.
I don't say this gleefully - I hope it never happens.
Another problem is the access to resources like rare metals, that China stockpiles.