China isn't doing this to limit emissions, they're doing this to limit air pollution.

TLDR: But at what cost???

I mean even if we pass 2c by 2030, it's obviously still worth moving energy production off fossil fuels. The climate crisis isn't a binary thing where once we pass a certain temperature threshold the world suddenly ends. What's going to be happening in practice is that we'll see a higher rate of more powerful natural disasters like hurricanes, droughts, and floods happening. There is of course a chance that we might hit some tipping points that result in run away processes beyond our control, but we don't really know when that would happen at the moment.

Also worth noting that if western economies suffer another crisis, which appears to be looming, then the consumption in the west will drop dramatically. Meanwhile, the rest of the world is increasingly following Chinese model of developing based on renewables.