Is China overtaking America despite political complications, unsustainable economic policies?   
   

Some analysts argue that China aims to challenge America's position as the world's dominant power. Even if this were an accurate assessment of China's intentions (and even Chinese cannot know the views of future generations), it is doubtful that China will have the military capability to make this possible. To be sure, Chinese military expenditures, up more than 12% this year, have been growing even more rapidly than its economy. But China's leaders will have to contend with other countries' reactions, as well as with the constraints implied by the need for external markets and resources in order to meet their economic-growth objectives.  (The Economic Times)

(click on the headline to continue)