The global shift would be economical and knowing that China has a much stronger economy is looking in my back yard. War has changed as well as power, there is more fear of an economic collapse that forces our country to sell to the highest bidder then an actual invasion. Although that is partly because there is an armed person "behind every blade of grass" and an invasion is financially impractical.
The bigger thing that you are missing is that yes I see the world and most Americans do but there is not a dam thing I can do about it or what my own government is doing to it. With our president passing executive orders that don't even need anyone to approve or disprove and politicians making backdoor deals and sneaking the bad in to a bill that no other politician would reject because it would be political suicide to do so. What can we do to stop it. If we vote another candidate they will do the same, voting in this country has been picking the lesser of evils for a long time. I don't think I have ever seen a candidate that I would trust to represent me or even tell the truth and do what they say they will. Politicians represent themselves, they do just enough to try and be less evil then the other guy (often on the surface only) but then they do what they can to gain wealth and they are willing to sacrifice others and even lives to get it. All you see is what your own government wants you to see, unless you can say you have a truly unbiased media. If so let me know your news stations I would love to read unbiased news for once. I already read British, french, US, and Japanese news.
What you say about politicians is universal so don't look there for very much.
I believe that the economic advance of China is a bubble. At least, if the old Western industrial nations could produce their better quality at lower prices, the game would be over for China. Chinese companies can make excellent quality while a Western boss is standing over them (viz. Apple and BMW) but, left alone, will try to scam the world with shoddy quality. On the other hand, Chinese families running their own businesses are hard working and successful but usually not in their ancestral homeland.
The economic threat to the West is Asia as a whole. Asians, by and large, haven't yet fully grasped what Western society can offer. Whether or not you agree with it, they will work hard for less pay and live with fewer material comforts. That spells damnation for Western business because of the expectations of workers and owners there.
The news stations that you read probably, between them, give as balanced a view as you can get. The BBC is probably the best of those. Also try Sky on the internet. I can't see it these days but the English speaking Al Jazeera TV channel is also remarkably even handed. You may hesitate, as I did, to believe that but try it or its website if you can.