Johnw1104 said:
Proxy wars yes, but the aim of those proxy wars isn't completely focused on outmanuevering one another. Russia has reasons, such as the year round warm water Mediterranean ports, for wanting to see Assad propped up, but the tensions are no where near those of the previous Cold War, nor are the stakes. Russia is far weaker, both militarily and economically, than they were the first time around.
You've a rather odd view of the circumstances, by the way. China and the U.S. are certainly unspoken rivals, but they are absolutely dependent on one another. There's been a friendship of convenience between Russia and China to reduce US influence in Asia, the pacific, and Europe, but both have alienated themselves by doing so (note the militarizing and strengthening of ties between Japan/South Korea/Australia/Taiwan/Indonesia and the USA in the Pacific as they fear China's intentions for the region). Russia, meanwhile, is still under heavy sanctions and can count almost no one among their friends.
Otherwise, the U.S. military still holds a massive advantage over the other two, especially in regards to the all important "force projection" capabilities and navy. I'm not sure where you're getting this idea that they're actually weak as, if you're referring to the slower economy or rising debt, those are two things that would likewise destroy your proposed opponents (China/Russia) should they ever cause economic collapse.
Really, China and the U.S. are, in my mind, more akin to the tense but brilliant trade relationship you saw between the U.S. and UK in the 19th century. There's little room for an actual war between the two as they'd be economically devastating (not to mention China can not yet hope to win as their own admirals have stated in the recent past) and they're far better off maintaining what they've thus far built.
There's no real Cold War yet, then... Instead there's a rush to defeat ISIS and replace it with whatever seems most advantageous to the participant. There will always be disagreement there, especially so long as Russia tries (vainly) to reestablish the kind of empire it held in the past which, so far, has yielded little more than a damaged reputation, economic turmoil, and the money sink known as the Crimean Peninsula.
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