I don't beleive in fear mongering but I think it would be irresponsible to simply embrace them and not look at what they are doing. They are buying up all the worlds resources. The US and China are using up all the resources it would be foolish to not pay attention.
How would you handle the spying and technology theft?

What about being completely dependent on China when they own everything.
Will they be like Walmart, who sells things really cheap until they put the little man out of business then they raise the price when the competitions gone?