Well, peace may continue, but it’ll be hard to attribute it to America. China’s ascendance is looming on the horizon. Unless something goes drastically wrong for them, their military and economic might will dwarf America’s. And I think there’s tons of instability on the horizon. Weird shit is happening in Europe, Russia is back as a geopolitical force, Japan is on path to militarize again, etc. These are strange times; the world order that the Soviet collapse ushered in seems to quickly be coming to an end.
The Pax Americana has never been free of contentiousness or outright war. People (especially young people) forget how fragile things were prior to the fall of the USSR. The complete US dominance of the '90s and '00s is not the norm. And just as the Soviet house of cards collapsed, there's no guarantee that China's ascendancy is indefinite. Russia's posturing right now is a veil for its domestic strife and decrepit military, they are not much of a force.