Yes, China is our principle economic and military competitor. That has been true for about two decades. It is not new. Military and civilian leadership have recognized that for quite some time now. But let's not pretend our moves are necessarily coherent. For instance, Greenland is a property of a close economic and military ally. At least up until we indicated we wanted to take it, there wouldn't have been a real concern that American companies would be denied to the opportunity to develop resources there if the economics supported it. The problem has been that the economics aren't great. China has a many year head start on generating the technologies and workforce necessary to mine and refine rare earth minerals. Chinese companies also own intellectual property that restricts development. It wasn't the raw material we lacked, but rather the economic incentive to develop this industry. Were we truly concerned with combating China, a stimulus bill similar to the CHIPS Act would have made a lot more sense and wouldn't have risked severe blowback. Similarly, restricting the sale and development of EVs further erodes any economic incentive by decreasing the demand that could have fueled development (e.g., lithium for batteries and neodymium for electric motors).
As to Russia, the war in Ukraine is largely the result of losing sight of Russia as a rival and destabilizing geopolitical element. It isn't a good idea to double down on that failed strategy.