As for the potential future threat of the "People's Republic" of China, I believe that as a pole in the multi-polar international system, that they are the single longest threat against the current dominance that we currently enjoy, and the most overlooked in our current view of international threats.
As a growing power they are, understandably, seeking a position of regional dominance. They are doing this with the help of all the other poles of power. Russia is willing to provide them energy and designs. Europe is providing them technology and capital. And the US and Japan are providing capital as well. They are using these to learn from the world just as Japan had done in the late 19th century. They are taking foreign designs and attempting to backwards engineer them to advance their technological abilities. They are increasing their production capability by having the world pay for their massive inexpensive labor force produce goods and products for the rest of the world. And using these two advancing elements, with a focused labor force (via an oppresive communist government) they are producing a world class Armed Force.
They shall use this to persuade neighbooring countries to fall under their sphere of influence, or (in the case of the Republic of China) to enter their political fold. It's only a matter of time. The real question is what we are willing to do about it.
