China is in an excellent place, their biggest competitor (US) is pouring hundreds of billions of $'s into a war, and it's not against them, heck its not even a proxy war against them! We are building on greater debt, while they are building up greater prosperity.
And too the people that don't think China could pose a military threat because of our nuclear weapons and mutual assured destruction forget that china really doesnt care too much about human rights and would be willing to sacrifice a city for a city as long as the leadership lived.