I agree the cold war has already started, unfortunately.
It will be interesting to see at what point other western countries start to dissociate themselves from US policy. What the US is trying to do is insane. We need those international institutions you mentioned, plus more arms agreements not less. If one side thinks the other is cheating on the agreements then we need a better arrangement for inspections.
I'm not so sure about the risk of travel to China. I just checked on Google and there were 988,000 expats in China as of 2017. We had quite a few and none of us ever heard a peep from the Chinese government over a period of close to 8 years.
