Based on ideology and the fate of the Warsaw Pact countries, we knew what awaited us if we lost the Cold War: totalitarian rule by a Communist Party answerable to Moscow; the loss of all political and legal rights; and the destruction of all private businesses of any size. Does China aspire to something similar?
No. Given its history and belief in Chinese exceptionalism, China’s model for world domination is the relationship between the Middle Kingdom and vassal states, not the Soviet Union and its satellites. The Chinese do not care what kind of legal, political, and economic system we have as long as it doesn’t criticize China or prevent it from doing business as it sees fit. As a result, there would be some constraints on free speech, and the possibility of camps for political opponents, but nothing worse than that.
Do you find that comforting? I’m guessing not.