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China is doing plenty about it by building out a navy that can counter the US, and to which every war game US themselves played they lost. They're also building alliances all across the Global South, and moving away from using the western financial system.
China is playing it smart here because they realize that time is on their side. The US is already stuck in two wars, and their resources aren't infinite. Meanwhile, US economic power continues to wane globally and its relevance along with it.
And US munitions with no quick way to ramp up production capacity.
Indeed, I don't think the US ever expected the war in Ukraine to go on this long and they weren't prepared for it industrially. Now Israel is piling problems on top of that, and it's not clear what the US can do here.