Fall of the Soviet union was also a major hegemonic realignment.

I don't know I have some hopes that maybe it'll play out more with economic tools.

Oh, and I don't think western alliances and trade relationships necessarily need to collapse. But Trump certainly tries :(

To some extent yes, but the Soviet Union and Warsaw Pact was never really as threatening as western propaganda made it seem. In basically all metrics that matter - population, GDP, military spending, technological advancement, etc. - the eastern bloc was a distant second to NATO. That makes its collapse far less disruptive to the world order than when the former hegemon falls.