China as 'communist' is a joke - it's ideology, but it's only that. China practically is only communist insofar as it is, indeed, a dictatorship. You think the Communist Party is eternal ; it's not. If China enters an economic crisis, the Communist Party will fall. It's one of the country with highest yearly number of strikes per capita. Suppression of dissent is already being increased by Xi and it isn't for no reason.
The important thing though is that China has no wish to affect other country's political mechanics. I despise democracy but don't worry ; China won't push against it in western countries. It won't push for more economic equality either, if you're scared of that.
Since the 90s we've seen what America being a super-power looks like ; that is, America has been the main cause of large scale wars, and it has internationalized its economic laws to the point where it can put on trial foreign companies for corruption in foreign countries and take the fine's money. It has also let its financial sector run crazy, which if anything, is the bigger risk of the three here.
If Chinese presence stabilizes middle-eastern powers by supporting them, however shit they might be, instead of bombing them, if China pushing against international economic laws and institutions being dominated by the sole interest of the US, and if the financial balances shifts partially towards more regulated Chinese norms, that'll be good. Sadly, I also have doubts about the last one being that much better.