Both of these groups are wrong. It is important for the US to stand up to China, not just because of what they’re trying to do to the US right now — force us to deindustrialize, sow division in our body politic, control our speech from afar and so on — but what else they’ll do to the US if it sits back and lets them win Cold War 2.
Knowing that the US is a dangerous potential rival, China’s current leadership would do everything possible to weaken that rival. “Engagement” didn’t make the Chinese Communist Party (CCP) pro-America before 2016 and it would be even less successful now. Some day the US and China will be friends again, but for right now, what’s needed is a balance of power.