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"For decades, China was viewed by U.S. strategists as a struggling communist nation with a massive population that really did not represent any kind of strategic threat to the United States at all. But that has now dramatically changed. Thanks to trade agreements that are extremely favorable to China, the "Great Dragon" has risen and has become a formidable economic machine. Already accounting for a fifth of humanity, this new economic muscle has also allowed Beijing to dramatically reform and upgrade the Chinese military. Now China is without a doubt a world superpower and it stands poised to be a major player on the world stage during the last days. So just how powerful of an economic force is China now? Well, in 2010 China is expected to replace Japan as the world's second-largest economy. Not only that, but China has overtaken Germany and is now the biggest exporter in the entire world. Let that sink in for a bit. China sells more stuff to other countries than anyone else in the world. That fact alone is enough to make China an economic superpower. Citizens of the U.S. like to think of themselves as the greatest economic superpower, but the reality is that the average American is drowning in debt. In fact, the average American piled up even more debt this past Christmas season buying cheap plastic stuff made in China to exchange with family members around the ole Christmas tree."

"By Kang Juan China made stern representations to the US Thursday after the Obama administration approved a sale of upgraded Patriot air-defense missile equipment to Taiwan. The decision was denounced by Chinese military scholars as a representation of US-style pragmatism and its long-term containment policy toward China. The US defense department announced the contract late on Wednesday, allowing Lockheed Martin Corp to sell an unspecified number of Patriots, said the American Institute in Taiwan, Washington's de facto embassy in the absence of formal ties, Reuters reported Thursday. Wendell Minnick, Asia bureau chief of Defense News, told Reuters that the sale rounds out a $6.5 billion arms package approved in late 2008, which included 330 Patriot Advanced Capability (PAC-3) missiles worth up to $3.1 billion. "This is the last piece that Taiwan has been waiting on," Minnick said. Late last month, Raytheon, the world's largest missile maker, won contracts totaling $1.1 billion to produce the Patriot Air and Missile Defense System for Taiwan, including ground-system hardware and spare parts. According to a Wednesday press release by the US Department of Defense on its website, the contract with Lockheed, awarded December 30, included "basic missile tooling upgrades, command and launch control tooling, spares and ground support equipment." The completion date of the work is estimated to be October 31, 2012. In a regular press conference in Beijing Thursday, Chinese Foreign Ministry spokesperson Jiang Yu said China has urged the US to cancel any planned arms sales to Taiwan to avoid damaging its ties with Beijing. The PAC-3 missile is the world's "most advanced, capable and powerful theater air defense missile," which defeats tactical ballistic missiles, cruise missiles and fixed and rotary winged aircraft, and significantly increases the Patriot system's firepower, Lockheed said on its website."