"I do not always support Xi's policy, and certainly not a fan of his recent attempt at third term. But I think he had no choice"

He has been "hardline " since day one.  It was an inward looking preservation stance. It is a choice.

"Most of all, I think the degrading Sino-US relationship is inevitable. We saw the signs as far back as since 2001 Hainan incident"

Of course.  China is a threat economically to the US back then but then again China's GDP grew in high percentages despite all the rhetoircs and threats by the US.  After Xi took over, things changed. Taiwan elected a crazy lady because of that.

"Frankly, the one that surprised me the most is Australia reaction to China rise"

No surprise here.  Please remember, Australia's White only policy was removed in the 1980s.  From the 90s until recently, Australia's economy enjoyed similar growth rate as China but at the same time, it is still the same entitled arrogant pro-White country.  It was only after Xi that Australia's mood changed.  Of course we will be happy because "it is about time", let's show the White people who we are, but the time is not there yet.  Almost Dunning-Kruger-ish.

"Another country that I think China need to pay attention to is South Korea, and it is not because of the recently elected right wing president that seek closer relationship with America and Japan. But because Chinese economy under Xi want to evolve into something that will more and more compete directly with South Korean industry. That will give incentive for South Korea to "defect" to the other camp."

Why compete with South Korea?  It is a small country will specific industries it is good at.  Even if China is able to do what South Korea can do, it is just a splash in the pond. It is a small country that will side with any large power that will guarantee its security.

"Sri Lanka expecting China to bail them out, I don't think it is that simple."

It is that simple.  Delay loan and interest repayments, extend some aid.  Unless China is not as "rich" and "powerful" it is trying to project.  What of other countries pivoting towards China?  By this fall, most of Xi's geopolitical manevauers will be gone as all those countries will be facing hardship and IMF will come in and do the usual "regime changes"   You think these countries are able to "tough it out" and join the anti-West global South solidarity along with China?