Introduction

Soon after the turn of the 21^st century, American political scientist Kenneth Waltz wrote simply and matter-of-factly about China's upward trajectory. “China will emerge as a great power even without trying very hard”, he noted, “so long as it remains politically united and competent”. Setting aside the question as to whether or not China has tried very hard in the ensuing decade, it has indeed maintained its domestic political stability and has continued its breathtaking rise. Much is attributable to the Chinese economy. It is today the world's second-largest economy (having overtaken Japan in mid-2010). It is the world's largest trading economy, the world's second-largest destination of foreign direct investment, and the world's largest holder of foreign exchange reserves. It is also the largest manufacturer on the globe. This economic success has meant expendable income, and China is spending on another key indicator of great power status: the military. Even allowing for the large (presumed) gap between China's official defense budget and its actual defense spending, China's defense budget is second only to the United States. It also occupies a privileged position in world politics, courtesy of its permanent seat on the United Nations Security Council. Its increasing diplomatic confidence has become readily apparent in recent years, and it has proved willing to “use its veto power to constrain, shape, and sometimes derail the proposals of others, including the USA…”. Economically, militarily, and diplomatically, China is rising.