That is the title of a 2010 journal article by James Kraska:
By 2015, U.S. command of the global commons could no longer be taken for granted. The oceans and the airspace above them had been the exclusive domain of the U.S. Navy and the nation’s ediﬁce of military power for seventy-ﬁve years. During the age of U.S. supremacy, the Navy used the oceans as the world’s largest maneuver space to outﬂank its enemies. Maritime mobility on the surface of the ocean, in the air and under the water was the cornerstone of U.S. military power. The United States was able to utilize its maritime dominance to envelop and topple rogue regimes, as it demonstrated in Grenada and Panama, and use the maritime commons to ferry huge ground armies to the other side of the world and sustain them indeﬁnitely, as it did in Vietnam and twice in Iraq. The unique capability to project decisive power rapidly in any corner of the world gave the United States deterrent power and unrivalled military inﬂuence.
All that changed in 2015, when the nuclear-powered aircraft carrier USS George Washington, forward-deployed to Yokosuka, Japan, sunk to the bottom of the East China Sea. More than 4,000 sailors and airmen died and the Navy lost eighty aircraft. A ship that would take seven years and $ 9 billion to replace slipped into the waves. The incident upset not just the balance of naval power in Asia, but ushered in a new epoch of international order in which Beijing emerged to displace the United States.
If you have never read Kraska’s article, read it now. If you have, read it again. And ponder it while listening to senior US and Chinese officials trade tough talk over maritime disputes in the Western Pacific.