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No. The third world benefits from China's rising, not the US-China confrontation. China is part of the third world, a huge part, with 20% of the world population. Hurting China is hurting the third world, piece by piece. China is the largest developing country, and the largest third-world country. China rising is the blessing of the third world. The third world finally sees hope. Yes. countries of the third world can get prosperous without resorting to imperialist wars, colonialism, the slave trade, and the opium trade, and without repeating the evils the developed countries have done in order to accumulate capital for development. China is part of the third world as China is not a developed country yet by GDP per capita. China is part of the third world because China has been a victim of western imperialism and colonialism just as all the third world countries have been.
The so-called US-China confrontation is provoked by the US policy of containing China. Such as the Freedom Navigation sailing warships toward China's land mass and islands belonging to China. If the US wants to navigate, why sail toward islands and landmasses? Does the South China Sea have a size of only 12 miles in diameter that passing ships always have to approach China's coast?
The US Freedom of Navigation is a provocation.
China has long been promoting a relationship with the US of no conflict, no confrontation, mutual respect, and win-win cooperation. Yet the US never accepts this relationship. The US hegemony wants to rule the world, especially the third world. Western imperialism has ruled the world in the last few centuries making the third world suffer colossally. The US hegemony continues the imperialism to exploit the third world resorting to wars and regime changes. Look at where the refugees come from. Refugees come from regions of wars and chaos all within the third world.
Some third-world countries dream to take a chance in the US-China conflict and even think they can get favorable terms from the US if they jump on the bandwagon of the US war with China. It is short-sighted. Iraq was once the ally of the west in the Iraq-Iran War. Now the US invaded Iraq and occupied it, while Iran is still in one piece. Ukraine wants to side with the west and the cost is to have the whole country as a battlefield of a proxy war against Russia.
Sure the US treats a country better if that country sides with the US in the war with China. But that’s the US strategy of divide-and-conquer. After the value of the country was exhausted in the US geopolitical goal, the US will abandon it without any hesitation. Have the third-world countries had enough of imperialism in the last few centuries? Why still want to take chance to help maintain the US imperialist hegemony?
The US and China have the nuclear capability of ensuring mutual destruction. When the conflict between the US and China escalates enough, there will be a war not directly but a proxy war not on US soil nor on Chinese soil. When two elephants fight, the grass turf suffers. The world needs peace and cooperation to develop, not conflict and wars. Want to benefit from a conflict is morally wrong.