"China isn't pursuing traditional hegemony"--tell that to Taiwan, Hong Kong, Vietnam, Japan, South Korea, Singapore, Australia and the millions of overseas Chinese policed by the Orwellian Chinese police/social credit state.

China pursues hegemony through the BRI, but that will end up in the same default city as Evergrande.

"alternative socioeconomic ideologies"--What does this mean? To be credible be policy specific.

Hayek predicted a depression in the early postwar years. JMK was the best investor of his generation as manager of the Chest Fund--the Oxbridge endowments from 1921-46, with 12% compounded annual returns. He also made a fortune forex trading and was the Warren Buffett of his generation. Who would you put your money on?

Watch the Keynes vs Hayek rap videos for an entertaining look at who won this debate: https://www.youtube.com/results?search_query=keynes+vs+hayek+rap

In 1970 Nixon said we're all Keynesians now. Reagan was no less Keynesian in practice, but with military expenditures to bankrupt the USSR. In 1983 Gyorgy Arbatov predicted this result after Reagan's Star Wars speech: "we'll try to match you and you'll bankrupt us."

The Keynesian impact of Biden's IRA show the American capacity for pivoting when faced with crisis.

Let me know when the Global South's central bank with a common currency holds a press conference about the BRICS abolishing capital controls. I'm not holding my breath.