In recent years as China has begun to emerge as a rising naval power in both the Western Pacific and Indian Oceans, there have been many comparisons between Germany between 1898 and 1914 and China. Henry Kissinger made this comparison in his latest book, On China, but noted that unlike in Europe in the early 20th century it did not have to end in disaster. In this comparison the United States is naturally cast in the role of Great Britain--the satiated status quo power and major naval power. Presumably India can be cast as France, the lesser naval power and continental power that has been a past rival to Great Britain but is now available as an ally.
In the 19th century/early 20th century European balance-of-power system half of the powers, all located in Eastern or Central Europe, were weak states on their way down: Russia, Austro-Hungary, the Russian Empire, the Ottoman Empire, and Italy. The Ottoman Empire had been "the sick man of Europe" for three-quarters of a century as it lost its European colonies in the Balkans (much like Spain in North America in the 19th century) and would furnish the battleground and casus belli for the start of the First World War. It lost Greece and Serbia in the 1820s, Bulgaria in the 1870s, Bosnia in 1908, and Albania in 1912. Russia was full of national minorities and had suffered from a failed revolution in 1905 as a result of its humiliating defeat to Japan in the 1904-05 Russo-Japanese War. Austo-Hungary suffered from the fact that both the Austrians and the Hungarians were minorities in their respective portions of the Empire and the conservative Magyar landed interests were opposed to turning the dual monarchy into a triple monarchy by sharing power with the Slavs who made up a majority of the Empire's subjects.