> China has no interest in being the guarantor of freedom of transit in international waterways, to pick one example.

The Strait of Hormuz has entered the chat.

So much of American "power" in the past few decades has been based on perception, not reality. And other major powers, including China, have largely played along because it has suited their interests too.

But it's a mistake to assume that just because other major powers haven't sought conflict with the US, it means they're not capable of challenging America's power credibly in certain regions and domains.

Of note: the US doesn't even have an aircraft carrier in the Pacific right now. The only thing keeping China from, say, moving on Taiwan, is Pete Hegseth's testosterone.