In terms of international trade and investment, China is overrated as well. China accounts for merely 3 percent of total world trade, about the same as South Korea and less than the Netherlands. Talk about the Chinese market is also overblown. Only 1.8 percent of U.S. exports go to China. This is a third less than U.S. exports to Taiwan.
China is also a second-rate military power seeking to become first rate in a hurry.
At the moment, China accounts for only 4.5 percent of global defense spending. In fact their military success seems due more to stealing than spending. China has also obtained information on a variety of U.S. weapon-design concepts and features, including those of the neutron bomb. Beijing is a serious menace to Taiwan and would like to use its military to take the disputed Senkaku Islands from Japan. Fortunately the United States military stands in its way, but our foreign policy needs to prepare for a more powerful China in the 21st century.