The USA is the only country to have ever used Nukes against an enemy and during the 1950s when the US believed that a Nuke war was winnable it threatened to us Nukes in Korea and later against China over Tiawan islands:
Once the US realised that a Nuke war was unwinnable, the Cold War started.
IMO we'll see another Cold War; this time with China .
Also IMO, China realises this and that is why it is shoring up its global markets (excluding the US & its Allies) via its OBI and its related foreign investment programs
In the interim both the US & China will have to untangle their trade relations so that either side can untangle its industrial supply chains, China with Hi-tech & the USA with manufactured product such as auto components & cheap electronics.
Short of war, both sides will try to polarise the world tradewise and securitywise and it will be a matter of "may the best man win"
IMO the US will have to encourage/coerce the EU to shun China economically (The EC is a potentially a bigger market for China than the USA) and instead trade exclusively with the USA & its allies.
This would complete the polarisation of the world economically and potentially bankrupt Aus over time, IMO due to China's huge BRI membership and its influence within that block.