Specifically:
-"While the US is fighting its war on terrorism we are positioning ourselves to be a super power in the next 2 decades." I think this is spot on--China has an enormous advantage over the United States by not being wrapped up in international intrigue--specifically terror---and why has China not been attacked by terrorists by the way?
"We realize superpowers are measured by their economic growth and our GDP has been growing by about 9% annually with greater growth in the technological areas." An absolute key--specifically that it is growth in GDP not GDP---China is growing rapidly as it the whole pacific rim--that is going to be a problem for us if we are not smart
"Which will allow us in ten years have economic parity with the US on defense spending." I don't think they will do this---as we are busy exerting control over the world they are building things for the world---they don't need to compete with us militarily--and I don't think they will
"While the US fights it war on terrorism we will be getting militarily ready by thinking about war on the oceans or possibly in space. We see naval superiority as a means to becoming a superpower in the upcoming decades. One of our goals is to continually expand our influence on the seas until we can exert control over US fleet movements. We are investing heavily in submarines." You are investing in submarines because you know they scare the crap out of the US--But expect a visit from the HLS folks becuase you are spot on with regard to space--that is were the globe will be controlled from and China is working hard.
So, the original question is is China a threat--Yes--an incredible threat but not militarily--because the first thing we decided playing China was we didn't want to fight--we wanted to win---so when the US posteured--we called Bill Gates, and said--We need some help here---my big fear is that as we are spending tons of money on protecting the homeland and killing terrorists--we are not making an equal committement to maintaining intellectual parity with China--specifically EDUCATION----once we lose the edge in intellect to China--we are in trouble---my humble opinion--
but--why don't terrorist attack China?