Mahon is like Clausewitz, He presented some well reasoned ideas, but his writings were, and are, given more weight than they deserve. Two specifics, first, many of his theories revolve around the contemporary need for a world wide network of coaling stations that has been rendered obsolete .
Secondly even in his own time 4 of the major powers had little if anything in the way of real naval power (Germany, Austria Hungary, Ottoman Empire, and Russia,) and while France considers itself to still be a "World Power" it's fleet has not been a factor in world affairs since Napoleon's day, yet both France and Germany maintained colonies around the world while the Ottomans ruled an area that extended from the borders of Afghanistan to the Atlantic coast of Africa.
China ? It's my opinion that they wish to dominate the world economically while maintaining a military that is capable of both, local domination to the East, South, West, and internally, while also being able to defend against any moves by the Russians to the North.
China's primary reason for the military modernization of the last 30 years is the lousy performance of the PLA in their 1979 operations on the Vietnamese border.
If Red China, and Formosa are ever reunited it will be common interest not military force that decides the issue.
When you get done with Mahon there is still Douhet (Sp ? ) "On Air power"