China could probably be goaded into it in a very similar way to how Japan was nearing 100 years ago.  Japan was not wild about the idea and China for a variety of reasons is even less so.  Their best strategy is probably to push things out as long as possible and simultaneously try to get the like/hate differential as high as possible.  That way, if/when they need to put boots on the ground the conditions will be more favorable.  Being able to supply endless stream of trinkets only help their efforts if they adopt this strategy.

An alternate strategy would be to join an NWO and set up for the most favorable terms.  Their choice would dictate whether that is practicable.

I may be crazy, but I'd personally prefer global thermo-nuclear war and subsequent re-set to world governance.  The simple reason for this is that life would be more tolerable and the future brighter for those lucky enough to survive the event.  As part of my thought processes here, I would anticipate a significant human population decline even if the current crop of likely leaders did emerge as global rulers.  As species go Homo Sapien seem to be on their shit list and in an increasingly technologically advanced world there is not much to be gained by owning an enormous herd.