What makes you guys think that with 20 more years of economic growth, they won't start producing a state of the art military? Sooner or later, I'm afraid they're going to figure out how to organize their massive population into something useful... and powerful.
The majority of their population again lives in shacks,ghettos. The country is a Communist nation with some quick money schemes mixed in to be part of the world economy.
Look at what our poor run government has done in the last 10+ years to fuck us and then Look at your question again how a nation like China will ever be a country of great power.
China is not Japan.
China has one thing cheap labor for cheap goods. If Americans and the world get back to the concept of buying one item and fixing it rather than throwing it the trash since their is a local supplier of goods to keep it working we will get rid of the mass of what China does,sell shit that breaks in 3 months and no way of fixing it.
This will happen as the only way for the American work force to survive is to get back to our roots of products that are built with pride,honor and respect. I have faith this will happen in the next 15 years. Pain,poverty and hate is what is needed to open our eyes to the concept you help your neighbor not some fuck across the world.