I agree. An analogous situation with an oil embargo is what drove the Japanese to attack the US in 1941.
I don't understand what the Chinese government is looking to realistically accomplish. They have built an export-driven economy, and about one third of all of their exports go to the US, Europe/UK, Japan, and South Korea, countries which are unlikely to align with China in the event of a conflict. I am not a global strategist, but if I were Xi, I'd be looking expand China's wealth, power, and influence by just following the course they were on in 2019. Globalization was humming along, and China was the biggest beneficiary of that trend. In 30 years they would easily be the dominant world power. The situation they're creating, aligning the US political class against them, looks irrational. Why fight, when you can play the economic game and likely win? The Chinese government must understand the strategic situation better than I do; perhaps they see an upcoming strategic advantage the US and its allies will have that must be averted at great cost. Or perhaps the motivations are just historical impact and personal glory.
The Axis powers in WWII under-estimated the ability of the US to produce enough war material for a two-hemisphere war, and completely under-estimated the Russians' willingness to fight on against superior forces at any cost. (Reminds me of the Russians' current dilemma with Ukraine.) I think the Chinese are, perhaps, underestimating the impact of the many millions of people alive in western countries whose parents were alive in WWII, either as soldiers or suffering civilians, and these direct descendants are likely to support very aggressive political positions against dictators who have world rule in mind. A dangerous situation indeed.