The US wouldn't win a war against China anyway, not without great cost. They couldn't even beat the Taliban in Afghanistan after 15+ years, they've withdrawn and the Taliban are back running large parts of the country and having been doing that even before the US left.
They couldn't get Saddam the first time and couldn't win cleanly in Vietnam either. China is a whole other ball park of trouble.
I don't know about a "Cold War", but I think China has badly damaged their standing with the Western world, not just this COVID19 situation but other issues were already bubbling to the surface. I dunno about "Cold War" ... maybe "Lukewarm posturing", lol.