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My position is that China experienced the full force of western imperialism from the Opium Wars onward.

Japan experienced the full force of Western imperialism. You had a skirmish with Brits.

China had been at a low point in its own culture, economy and governance and was vulnerable to the power projection spearheaded by The British Empire

You're at a low point now. The Soviets are as bad as the Manchus.

Continuing the imperialist hegemony the US holds carries risks because the USA no longer has a stronger economy and its military might is under serious challenge from new asymmetric warfare systems.

Those systems can't defend against Bridge Day. The US has more than enough capability to completely wipe out Iran. There is no actual military challenge. The challenge is to dismantle the pro-PRC government without hitting the people. We're trying to be Christian about it. Otherwise the whole country would be dead already.