Afghanistan was endorsed by the UN Security Council [1]. Iraq was not [2]. That set a loud precedent that wars of conquest were back on the table. (To be clear, they were never really off. China invaded and annexed Tibet without much of a fuss during the Cold War.)
> China played the long game to cement its geopolitical influence and make itself "too big to fail"
Nobody was ever bailing out China if it fails. It’s unclear it would be bailed out today. Too big to fail doesn’t apply.
What China has done is become too big to ignore. (Though Xi, being a dictator, seems unable to not squander goodwill every time China earns it. First with the Wolf Warrior nonsense. Now with these rare earth export restrictions on everyone.)
[1] https://en.wikipedia.org/wiki/United_Nations_Security_Counci...
[2] https://en.wikipedia.org/wiki/United_Nations_Security_Counci...