Yes. The worldview that led these monarchies to dominate the world like that is very universalist, which is not typical of reactionary monarchies. Reducing the number of power-centers in the world to just three will cause a lot of instability. It won't even be an Orwellian 1984 situation; it'll just fall apart.
Also, it's implausible that three empires at least the size of the Mongol Empire at its greatest extent would remain united for so long. The Russian empire historically only kept together because Siberia was mostly howling wasteland which couldn't support anybody trying to break away, and they managed to integrate it by the time of 1900. Britain only managed to gain India through incredible luck and by playing off local factions against each other until they were the biggest game in town, and China was fundamentally limited by its own Confucian ideology.
After all, if your ideology states that Zhongguo is da bestest evaaar and everything else is uninteresting barbarian lands, it tends to be pretty hard to start up the colonialism game. That and the fact that the merchant class was traditionally placed below even the peasantry really hampered Chinese development of mercantilism, which is what drives expansion and colonial development. Either way, the Confucian bureaucracy needs a pretty big overhaul to be able to adapt to changing times.
tl;dr: one empire getting lucky for a while like Britain or Russia IOTL is possible; all three getting this lucky and not fucking it up for each other is... less likely
I'd expect that there'd be also be several more independent powers in the list, including: France, Prussia, Austria, India, Japan, Spain, Portugal/Brazil, possibly Iran, possibly the Ottomans.
For my own taste, I'd add in Burma, Vietnam, the Aztecs and the Inca, but that's just my personal wish-list.