I don't think that it makes sense to have a fully-formed Biden administration policy to China because the situation is too dynamic and there are too many moving parts. China and Chinese society are changing at a fast pace (much faster than US society needs to change), and there are many dependencies and interdependencies. In today's world, the key is adaptability to rapidly changing situations.

The reason the US is now in a relatively weaker position vis-a-vis China is because the US stayed locked into positions which were changing, but which US administrations took too long to adapt to. This is why American public opinion oscillates between loving China and hating China, when it should be more nuanced. Most Americans don't have the time to study and understand China to have a nuanced understanding of China; for them, it is easier to go to a default position.