By this view, the so-called American Century (which arguably commenced in 1917) is a mere aberration, during which the upstart USA usurped China's legitimate role in the world.

Bearing this in mind, what China is currently doing is reasserting its prestige, military and economic power and authority, starting with South East Asia, still spreading through Africa and now appearing in the Pacific.

The strategic aim is to replace the USA as the world's foremost power, and thus be able to significantly influence if not entirely dominate world affairs to its advantage.

Naturally, the USA is going to push back against the Chinese efforts and this has already commenced. It is exerting its still enormous economic power and Donald Trump's overt belligerence towards China enjoys real support amongst many, probably the majority, of Americans.

While overt warfare seems unlikely right now, a covert digital war is already occurring, with both China and Russia seeking to find ways to disrupt western societies and, especially, the social cohesion amongst democratic societies that is a necessary prerequisite for any effective resistance to their geo-political ambitions.

Right now, the authoritarian regimes across the world seem to be winning this undeclared war.

The western democracies are in almost total disarray, with their political leaderships engaged in ideologically driven conflicts over things like Brexit, immigration policies, economic management, rights of minorities and so forth.

There is clear evidence that Russia at least, has deftly used digital means to exacerbate these divisions to its own advantage. They are following the old adage of 'divide and conquer' to great effect.

I do think that it has belatedly dawned upon our political leadership that we are collectively under real threat but their responses seem to have been inadequate to date.

I guess it takes a long time to overcome the inertia of 30 years of self congratulatory delusion that liberal democracy could not and would not again be challenged by authoritarian powers.

If history repeats itself, this is all going to end rather badly for someone or, maybe, all of us.

In particular, if things go badly for China's economy, there is a real risk that the ruling regime will ramp up its nationalistic rhetoric in an effort to distract the populace from focusing on its various very real failings.

If that happens, then the risk of someone doing something quite stupid escalates very rapidly.

I fervently hope that this is not what happens, but history does not encourage optimism.