Here's the situation so far as I can tell:
There were already calls to defund the police before Mr. Floyd was murdered (and yes, he did some pretty scummy things, and yes, he likely would have died regardless, but the reality is, he died begging for his life with a police knee on his neck).
The murder occurred at a strategically important time that enabled an already escalating movement to escalate in a parabolic way. The way it presented itself - in broad daylight and in public view with witnesses and with the perpetrator staring directly into the camera in a way that underscored an attitude of dominance for the sake of dominance, has the characteristics of a human sacrifice, not just a run of the mill homicide.
It was not just a killing; it was a ritual.
Rituals are performed in order to have an effect on the mass psyche. Whether intentional or not, the effect was to provide broad public support for a critical alienation of policing from the population on a national level. This then, in the minds of many, made the rioting that ensued palatable and understandable.
This public acceptance of general disorder then gave politicians cover to fundamentally reshape law enforcement, nationally. Maxine Waters then played into this public acceptance by overtly calling for more violence. This call for violence meant that an impartial jury is no longer possible because those jurors are now compromised by the prospect of a complete breakdown in order in their own neighborhoods.
Now, the jury would have likely convicted anyway, merely due to the visceral and shameless nature of the human sacrifice ritual that took place; but now, their verdict has to come under question.
When Chauvin is released on appeal due to the compromised verdict, the public reaction is going to be so severe that there will be calls for judicial and social reforms that will undermine the nature of American jurisprudence. This will make the entire constitutional republic into putty in the hands of the politicians, and whatever they decide to sell to the American public will garner support -- at least in jurisdictions that have already been conditioned to entertain radical statist (fascist under a Progressive/Marxist guise) ideas.
Some jurisdictions will not accept this, so then a national schism becomes likely. We will not have a civil war, because the federal government will not have enough support from the military to carry it out. Therefore, the risk of America becoming multiple countries is a very real possibility.
Without America as a cohesive world power, China fills the gap on the world stage.