How did a blockade around Taiwan turn into a global maritime halt? Magnetic rail and ships have similar energy inputs; if energy is going up for one it’s going up for the other. (Turning electricity into dense, portable stores isn’t trivial, but it’s comparable to long-distance electrical transport.) That rail link would also remain easier to strike than the world’s merchant fleet.
I don’t think American dominance is here to stay. But it’s highly unlikely a Europe-China nexus works, versus a rebalance America-Europe-Japan relationship. (There are no situations in which a belligerent China peacefully wins over Japan.)