Why does everything have to be a pissing contest with the US?
The EU is looking at China as thee number one trading partner in the next 10 years, if not sooner. With this, comes improved diplomatic ties and
cooperation. We know the size of their buildings and their growing status in the World, but we also know that:
China is 10 - 15 years off being a superpower.
China has a discraceful human rights record and does not deserve our respect until they are capable of treating every human with dignity.
China has huge poverty (whilst this improves, it is still of incredible scale).
China is building due to two factors, 1. insecurity: China have taken a pasting so many times throughout history that a new defense doctrine was
required. This relates to 2: in that, they could not afford such defense without the engine of economic prosperity. This requires a capitalist
approach to their economics.
One problem arises though, China's bubble is growing too fast, and they could face a 1929 type crash if they do not taper this off.
A decent documentary which explains this US - China relationship can be found in this link:
The Ascent of Money
I think he refers to the China - America relationship as 'Chimerica''

so you heard it here first!
This may just be the new American Century that the Neocons had planned for after all!
(Edit to fix link)
[edit on 7-1-2009 by Breifne]