The USA had three big advantages over China : hi tech, domestic hydrocarbons, and an image of rectitude. The image of rectitude is in pell mell retreat. How about hi tech? Hi tech depends on the efforts of smart people. China has 16 times as many smart people as the USA. Even Japan has twice as many. No way to compete with such a huge advantage. That leaves fracking as the only edge enjoyed by the USA. If your goal is world domination, that’s scary.
So the USA is reviving the Iron Curtain as the Greenback Curtain, partitioning this world into two hostile camps. They've opted to be the biggest fish in the smaller pond. As shown by the USSR, this is a losing game.
I dare say the current USA is showing a definite resemblance to the late USSR. On one occasion General Secretary Brezhnev addressed the Politburo while reading from a script. When he got to the bottom of a page he was so demented he returned to the top and read it again.
Back in the US
Back in the US
Back in the USSR