What is "record time"? Trump does not have anything to do with diminished USA hegemony. The problem started when USA let China to join WTO, which result in offshoring production to China and rapid China growth (also military, which was happening below radar of western observers).
At the same time USA stopped investing in its military (as compared to Cold War times) and, what is equally important, its European allies did the same (with exception of Greece and to some extent France). As a result whole Euro-Atlantic alliance become weaker and heavily dependent on China.
This was a long, slow process, stared in the '2000.
Trump tries to revert this trend, but makes unnecessary mistakes, most notably, he is hurting USA soft power and is conflicting USA with its European allies, which gives an impression that "something" happened suddenly now.
At the same time USA stopped investing in its military (as compared to Cold War times) and, what is equally important, its European allies did the same (with exception of Greece and to some extent France). As a result whole Euro-Atlantic alliance become weaker and heavily dependent on China.
This was a long, slow process, stared in the '2000.
Trump tries to revert this trend, but makes unnecessary mistakes, most notably, he is hurting USA soft power and is conflicting USA with its European allies, which gives an impression that "something" happened suddenly now.