The U.S. built up it's frigate force during the Cold War because it was faced with the possibility of having to convoy ships to Europe in the face of a Soviet invasion. Once that threat went away, the justification for the frigate force went with it.
A single Burke class destroyer, with its two helicopters, its electronics system, its stand-off ASW weapons is more than a match than the Type 056 in terms of anti-submarine warfare. A single Virginia submarine is an even better one. China can't match either.
Anyone wonder WHY the price of scrap iron has been going up? China buys most of it and you’re looking at some of our older, melted down ships, tractors, car frames and building materials, etc., now disguised at China’s newest war machines.