Well, some of us saw this coming back in the 80's already.
In the 1970s it was the Japanese economy rocketing into the stratosphere, back when a single Japanese "Zaibatsu" corporation's entertainment budget surpassed in size the national budget of Ireland, Japan became the major producer of international oil tankers, etc. And this was only a couple decades after "Made in Japan" meant junk.
Now it's China's turn. Only China is a lot bigger than Japan. One out of four people in the world is Chinese. Like the Japanese, they're ambitious, smart, and disciplined. Buying "Made in China" products for three decades has awakened a sleeping giant and virtually crippled US manufacturing industries.
This week we saw an announcement that China is surpassing the USA as world's top trader. And now US Navy Adm. Samuel J. Locklear III is sounding intimidated by China's emulation of Teddy Roosevelt's policy of speaking softly and carrying "a big stick" in the Pacific.