I think his point would be that a Chinese hegemon would be worse than an American one.  I don't think either is desirable.

But, no, there's nothing liberal about American hegemony right now; there was little that was liberal about it, as BooMan has pointed out, under Bill Clinton (who gets a pass because of the sickeningly low bar set by Junior); and there'll be nothing liberal about it when St McCain or Her Majesty win the White House in November.

Be nice to America. Or we'll bring democracy to your country.