The final competition is going to be naval power which is where your "of course" has to be qualified. Naval power is what backs the dollar and lets US act as th

The final competition is going to be naval power which is where your "of course" has to be qualified. Naval power is what backs the dollar and lets US act as the hegemon which the world can rotate around. Challenging that is a highly destabilizing act. US is in the process of becoming a true empire which can only be gimped by international institutions like the IMF which would reduce its currency-based influence as well as otherwise monopolizing decision-making power in channels of aide and diplomacy. But if the US can recover its political will then it still has more hard power than China can clamor for, and most of its allies which were on the fence are reorienting back to US partnerships. No one should want this kind of engagement to be enacted. It can get hot and messy in the worst way. But here we are. You lie in the graves you dig.