What I will do is direct you to some recent articles about China's machinations and for those of you willing to educate yourselves on the issue to some very comprehensive sources.
While the U.S. has been tied up in Iraq, China is modernizing its military and its air defenses are now nearly impenetrable to all but the newest of American fighters. China says spending for its People's Liberation Army, the world's largest standing army with 2.3 million members, grew 17.8 percent this year to nearly $45 billion. The Pentagon estimates China's actual defense spending may be much higher.
A 2007 Senate and House conference report notes that, "China's continued investment in strategic military capabilities that could be used to support power projection and access denial operations beyond the Asia Pacific region, and the lack of transparency surrounding the strategic military capabilities and intentions relating to China's military modernization"
China is developing space war capabilities.
China has developed cyber warfare capabilities and has launched hacker attacks on US government computer systems.
China has gained control of the Panama Canal. This allows them to delay the US Navy in moving ships in the event of a conflict.
China has engaged in a pattern of technology espionage and theft. Another Example.
China is making diplomatic and economic inroads into our back yard. It has also made serious inroads into resource rich Africa at the expense of the US. Often assisting African despots, violating Arms embargo's and stymieing efforts to enact UN sanctions against Sudan for its genocidal actions. see also and this.
China has become an economic juggernaut that clearly has the capability to wage economic war on the US.
China will sell arms to just about anyone. This strengthens there military industrial complex while gaining them valuable allies.
It is no secret that China opposes America on most efforts to bring rogue nations under control whether it be diplomatic or militarily.
In Short China is now a superpower.
This Blog entry barely scratches the surface. For more detail I recommend you read "The China Threat" By Washington Times Correspondent Bill Gertz. Also read "Unrestricted Warfare" by Qiao Liang and Wang Xiangsul.
All this just barely scratches the surface but taken with into consideration along with the type of government China has it clearly illustrate that China is a very serious threat to us. A threat which we are woefully unprepared for.
Next; what to do.