Firstly trying to overcome it with new routes and new agreements ( Silk Route Economic Belt ), if it does not work then crushing the problem with the minimum force needed.
Unless in the meantime oil would be substituted with other large energy sources or development of internal asian traffic routes largely substitute seagoing traffic.
China will be unstoppable, but if it becomes too bullying it will be isolated by others, and this could raise a terrible conflict because China cannot return to its old isolationism.