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They're also evidently concerned that EU has been declining (in many aspects) to the point that they may not be viable allies in the future.
The USA sees China as its equal in power and will compete. It understands the enormous efficiency of the Chinese industrial ecosystem.
India, South East Asia, Africa, and the Middle East are no longer cores interests. There will still be trade and partnerships with select nations, but direct intervention into their respective regions will be avoided
I would not call it a power vaccuum per se. More like the center of wealth, commerce, and geopolitics naturally going back to Eurasia as that's where most of the world's population and industry is.
I don't see this as a problem. The European confederation will play America's role with more tact. There will be no left-wing dreams of unification or immigration mania. Eastern European states will recognize who their natural neighbors are and with whom they must come to terms. The playing out of interests by external superpowers in the background will come to an end. Switzerland and Great Britain will turn to the European Union. Turkey, Ukraine and Russia will receive special status and mutual market access in the long term.
We'll pick up where we left off before internal and external disruptions occurred. ,-)