@nprofile1q... It's important to face the fact that the Chinese government will eat anyone alive if they think they can get away with it.
The US? Post-Trump they're not a reliable partner, but they're just flailing. NZ might be too small for good Trumpian grift opportunities (the only really focused actions the US government seems to have) so, who knows, we might get off easy.
It is true though that being in the same room with an 800 lb flailing gorilla you could end up just as dead as the first option above.
No good choices, really. (Except alliance with Europe if they got their act together.)