Capitalism will break down if we go back to spheres of influence. That is the entire premise of post WW-2 U.S. policy, to keep trade and trading avenues as open as possible and to allow the dollar to serve as a global currency.
China is being very dumb and short sighted.
It would be better off to do away with the Keynesian Free Trade policies implemented after WWII...they are no longer practical in 21st Century
Poppycock.