@Hmmm, I think your opinion is right on the target. I echo yours. The US and China both tried their best to protect their own interests. There is nothing wrong with it. Most time, both have to compromise. The US, for example, wants China to make RMB appreciate, but it does not want to press China so hard that China turns into a prolonged depression. The world economy is more interlinked than ever. An European crisis already drags down the world economy and many US firms' profitability. The US government is smart enough to avoid a China depression to ensure the US' best interest.
China, on the other hand, knows this leverage. While China likes taking as many shortcuts as possible in terms of GDP growth, it understands the fundamental of a growth is a peace and stable world environment. As a result, China will sometimes play against the interest of many Western countries to gain leverage, but at the same time keeps the balance of its acts to maximize its interest. If there is anything to blame, blame China's ambition to overcome the status of a low - middle income country. If China just wants to stay as a low income country, it can be the best friend of the US.
Overall, even though there are extremists in both China and the US arguing a potential war between China and the US, the world hardly works in an extreme way.