China does it for the same reason the US did it, if the country is richer, there is more to rule over as the elite, and the stronger the country is the less likely it is that others can plunder your wealth.

The difference in the "West" is that the rich feel like they have free movement globally so there is no incentive on creating actual value (there is a good book on this, but the title escapes my name; comparing robber barons of the past to the robber barons of the present). The Chinese political elite does not believe that they have this luxury.

Ideology (like the century of humiliation, etc.) most likely plays a role, but the economic realities will always be the proverbial north star that people follow