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Consider the British Empire in 1792, the year of Macartney’s expedition to China and the year young Emperor Francis began to look askance at the French Revolution and all the ruling factions within it started to wish for a war.  

Well at that time the empire was rather modest, a few spice islands, Canada, Gibraltar, New South Wales had started, there was a logging settlement in Honduras, and in India, Bombay Madras and Bengal, with Bengal the largest British territory in India.  Trade with China is substantial, around 25% of all, generating 16% of total government revenue.  But except for Penang, a stop on the way, no territory to support it.

By 1803 the value of British trade increased 81%.  From the French revolutionary wars to 1803, the empire grew to include Trinidad, Ceylon and Malta, even after returning most captured possessions at the Peace of Amiens.  Then by 1814....

The British position in India was massively increased, with the Mughal empire , Hyderabad, Mysore, and most of the South under various forms of British control.  Furthermore, the main waystations to get there, including the Cape colony of South Africa, and the Indian ocean islands were now under British control.

The number of sugar islands increased and British Guiana became real and there were more gold Coast trading posts in Africa, and Tasmania was added to New South Wales. 

And before the decade was over the third Maratha war would cement control over much of the rest of India and see the establishment of the first post in Singapore.  With many supporting bases like St Helena where Napoleon was stashed along with the newly established Ascension Island to help support St Helena.

I’m describing a different world now, different to 1792.  One where rivals to British sea power just do not exist.