China's Ascendency?
Well, a lot of spirited debate here. I don't personally believe China is a threat militarily - if threat means they will attack us - if you think about what the result would be (for both countries, essentially) why on earth would they do that? I think that some people overestimate the aggressiveness of China acting outside their borders - little history of that. If you want to fear someone based on their M.O., fear Europe. Might China get into some kind of martial conflict over lands that it possessed in the recent past? Maybe - but that is a little different than comparing them to the Nazis who were simply expanding arbitrarily into other countries as they could take them.
As to economically, who knows? If they are able to sustain percentage growth for the next ten years that they've had in the last ten years, they will I believe surpass the US in GDP as measured by Purchasing Power Parity (PPP). They are as some have noted, going through considerable growing pains, however, and I'm no economist, but I believe they are purposely restraining growth somewhat to stablize the currency.
Politically, it will be interesting to see if they can retain their Communist government together with a Capitalist economic system. It is not any part of the Communist philosophy, but, as a practical matter, the government is still currently exercising considerable control and censorship of information. They have recently gotten a new President, Hu Jintao, who is younger and somewhat more modern and moderate than his predecessors (though not drastically so):
He is also the head of the Communist Party in China.
As others have said, I also believe that the people will gradually expect more and more freedom. I don't think the Communists will just step down or vote themselves out of power - noone does that. Whether they can manage a smooth transition to a more open society or whether there will be some sudden event, like a revolution - who knows? They are really sailing in uncharted waters here.
Jonathon - just who are the Communists who run the Senate? You mean the Republican majority? What would you base "treason charges" against them on? Likewise for the entire Democratic party, whom you also seem to believe guilty of treason (or even any members you believe guilty of treason) - what is the substance of charges like that?