Both things can be true at once. I think its very clear that China is vying to increase its influence and mantle the US as the defacto hegemon of the world, or at least create a sphere of influence as strong as the US.
This means they're competing with the US, not that they're enemies. Competition for economic leadership is something expected from any large country and it does not equal to evil doing. It is the US that has officially adopted the "enemy" language, in my opinion as a sign of weakness, because they know the economic leadership is slipping fast.
