Despite the fact the Chinese economy and military spending is expected to surpass the US within the next 15 years Geoff Dyer over at Foregin Policy believes it does not mean that China will surpass the US in global leadership though:
“It’s over for America,” a Chinese academic told me in late 2008, two days after Goldman Sachs turned itself into a commercial bank in order to fend off possible collapse. “From here on, it’s all downhill.” Sitting in Beijing as American capitalism seemed to be hanging by a thread, it was easy to believe that one era was ending and another beginning.
The past half-decade should have been the glory years for the spread of Chinese influence around the world. After China’s ravishing 2008 Beijing Summer Olympics, and its startling recovery from the financial crisis, it had a platform to push for a bigger voice in international affairs. At a time when the United States has been navel-gazing on its own deficiencies and beset by dysfunction and infighting in Congress, China has quickly become the main trading partner for a long list of countries, not just in Asia, which should give it all sorts of sway. And at the very least, many Chinese assume, the country should start to resume its role as the natural leader in Asia.
Yet the years since the crisis have demonstrated something very different. Rather than usher in a new era of Chinese influence, Beijing’s missteps have shown why it is unlikely to become the world’s leading power. Even if it overtakes the United States to have the biggest economy in the world, which many economists believe could happen over the next decade, China will not dislodge Washington from its central position in global affairs for decades to come.
China is certainly not lacking in ambition, even if many of its final goals are not clearly articulated. It is implementing plans which challenge U.S. military, economic, and even political supremacy. But on each front, the last few years have demonstrated China’s limitations, not the inevitability of its rise. [Foreign Policy]