Zeihan argues that this is impossible on demographic grounds. The after-effects of the One Child Policy and the mass migration from farms to cities ensures a lack of soldiers, a greying population, and economic/military decline. Throw in Xi's unprecedented cult of personality that prevents anyone reporting bad news as the icing on the cake.
The US has nothing to fear from China, so Zeihan says.
Looks like the US and China import about the same quantity of oil. That doesn't contradict what you said, but I think it does diminish its significance.
https://www.theglobeandmail.com/world/article-china-launches...
The Chinese base in Djibouti for example, is larger than the US base there.
What the US misses is that China doesn't necessarily want a fleet of expensive (and very vulnerable) carriers floating around. It would much rather have islands and coastal bases around important choke points. Sure, the price you pay is force projection, but the benefit is that it's a much more sustainable military.
That already covered by option 2 in the op ("2 The Rise Of China"). It's not a very interesting option to discuss when it comes to shipping (e.g. everything stays the same, except Chinese warships substituted for American).