I don't see the fall of the Russian fleet being replaced by PLAN as a good thing. PROC actually has money to invest in their fleet! PLAN is much more likely to engage USN than the Russian fleet ever was.. ie Taiwan. The USN might be jealous but what can we do but watch PLAN grow? We won't attack unless provoked. PLAN is currently building twice as fast as we are. :lul
Well, as long as the PLAN doesn't develop a strong ocean-going blue-water navy, it isn't too much of a problem. They are just making it even more impossible to attack their territorial waters or coastal cities (even supposing somebody would be so crazy as to try).
Other than the issue of how to defend Taiwan, for the moment the strengthening of PLAN isn't really a challenge for the mighty USN.
However, the day the PLAN comes out with carriers and serious SSNs (Han are pitiful, and the new Type 093 are based on Victor-III so not comparable to Russian Akula for example) then the USN will have to do something to keep its current huge lead in the Pacific.
cheers