#2 PRC still have allies from Russia as it will be glad that PRC and US will soften each other while it is sitting back and supplies to PRC for profits. PRC dared to attack US when its own infrastructures were weak but now it is much more robust therefore it won't need much of the same type of help Soviet Union had provided before.
#3 Again, US is thinking using the model of bombs would make a country succumb. It had proved false before, it will prove false again. If US can bomb a country into surrender, IRAQ would have done so, Hezbollah would have done so, but they didn't. The first NK, PRC in the beginning also had no way of knowing it will succeed or not. It tried and succeed.
#4 PRC now isn't poor like before and therefore cannot declare war? National security vs economic development can only choose one, which one would PRC choose?
#5 If US wanted to sanction PRC, it would already done so. The fact that it didn't means sanction PRC economy, unlike the first time, would hurt its own economy as well as the world's. War is a perfect way to transfer internal problems to external sources.
#6 ROC dare to declare independence at that time, it would invite something more than just regular missles especially if PRC is losing to US in NK. When it is not, PRC will sent barrage of missles to bomb ROC's infrastructures continuously until its war in NK ended. If PRC won, it will focus its attention on ROC next.
#7 They are out of touch with this subject. There are still many poor people in PRC that could be used in army and many young well off people who are very patriotic in PRC.
#8 It showed US is using SK as the group force while it hides behind missles and air power. SK is not stupid. Also, it talks about Yugoslav and Afhganistan, what about Iraq? What about the current Afhganistan? Are they are peacefully surrendered?
#9 Good generals are made in combat. Inexperienced ones can be made into experienced ones in war. To understimate PRC's generals before fighting are dangerous.
From the above, I can conclude that this is not published by RAND. If it is, then their quality is becoming too low.