The flip side to China waiting out the 2020 election is that Trump is a deal maker and he’s playing with a much weaker hand right now. If he wins re-election, his hand would be much stronger. No way China could wait him out another 4 years.
Trump showed with healthcare and the budget that he can make bad deals when he doesn’t have power.
The things that China cares about are in his control, so the things that aren’t in his control that matter are irrelevant.
That being said, China has a lot going for it and also has complete control of its population which is something not very many people seem to care about. I’m going to guess that any deal China agrees to will be with the idea that Trump is out in 2020 or AT WORST 4 years after that. In the grand scheme of things 4 extra years is nothing. Once that is over, we can FINALLY get over this nightmare and go back to bending over and taking it in the ass from China with the next administration. Thank god.