For that matter, it worked wonderfully for Britain in the 20s and 30s!
It's come to bite our arses again now - we have to fit in with Pres. Biden's schedule because our leftist governments (including those headed by the so-called Conservative Party) have so gutted our military.
By all means don't try to create unnecessary wars (Syria, Libya...), but definitely don't let the guard down by removing necessary defence capacity.