China can't continue to grow at 10+% per year. Their leadership and country is also conducting a high-flying act which could lead to a precipitous fall --- growth at all costs has resulted in massive environmental issues, the one child rule may yet have unintended consequences to population growth, rampant corruption, serious economic imbalances, blatant disregard for intellectual property rights (which is currently favorable to them, but eventually will not be), etc. ad infinitum.
It's also obvious that eventually the foreign investment will fall dramatically. It has already curtailed somewhat, but that is likely a result of the worldwide recession.
OTOH, China has engaged in some very intelligent long term planning, including serious efforts to try to lock up and guaranty supplies of natural resources such as oil, etc.
The point of the OP is well-taken, but the fact is that China is still a rising power, and rising faster than any other power. Russia has risen from the ashes, but still doesnt' pose nearly the same long term military or economic threat that China does. The US has also been very Euro-centric for its entire existence, and reorienting our focus somewhat makes perfect sense.
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