While China is progressing, the West realizes that 1/4 of the world population will become a challenge and rival --- for resources.
I bow to the China government's "peaceful ascendancy of China" theory, if it is their ideal rather than a gesture. But I am suspicious of the feasibility.
The key point is resources, a Westerner consumes 7 to 10 times more than a developing country citizen. Imagine all Chinese consume the same amount....
China still benefits from low profit margin exports now, but it has potential in those high-end areas, such as aerospace, bio, medical and information. Once the rules set by the West (including intellectual property, global market, trade barrier) fail to stop China, armed conflict might happen.
U.S can stop importing from China, providing Americans are willing to pay much more and live at a lower living standard.
I believe certain ideaology or belief is required for the whole world to co-exist peacefully; and a more equal environment must be created. Based on the Western history, I believe it is a mission impossible for them. I do hope Chinese, with our traditional wisdom and philosophy, could contribute to the world with new ideaology, not only to unite the whole nation, but also to the whole world.