This analogy works on a few levels, but not in others. One key differences between the USSR and China is that the USSR did not have a close economic relationship with the U.S., nor an economy near parity to the U.S.'s. There might be a decline of Chinese power, but it will not take a similar path, imo.
Agreed that it’s not exactly the same scenarios. However US is actively disengaging from China. And as far as economy parity I think that may never be as China is on a downward trajectory while US is going up. And lots of china’s numbers are fabricated.