What are some potential scenarios that a state actor can harm bitcoin if they control more than 51% of the hashing power? As reported recently, China controls more than 51% of the hashing power and just in one province in China controls 54%. Assuming China has bad intentions and forces all these mining operators to collude to harm the Bitcoin network. What are some of the potential scenarios to dethrone bitcoin from the #1 spot?

From my understanding a 51% attack would just cause a loss of confidence, but wouldn't kill Bitcoin as the real chain will just fork off onto its own.
There may be a lot of miners in China, but the People's Republic of China do not control the mining power.

A 51% attack on Bitcoin may be theoretically possible, but it is definitely not feasible. Andreas Antonopoulos addressed this question and answers it better than I could. Here's a video of this Q&amp;A: https://youtu.be/yWTQgmCuiCw?t=8