no, under the proposed dependency scenario, it makes china hold an outsized bargaining position because china _can_ withstand a war while the west wouldn't. It's not a symmetrical relationship - china can survive their stopping of exports, as they are an autocracy, which means the citizens cannot complain (much). The west's citizens would not want to make sacrifices or suffer as imports get stopped, and thus will acquiesce policies on china when it is actually not advantageous to do so otherwise. For example, reneging on the sort of defacto protection being offered for a lot of the east asian countries (japan, korea etc).

The war that russia is waging against ukraine is clear evidence used to support this point - that being dependent on russian gas/oil was a mistake and europe is paying dearly for it.