Graham Allison writes in the Atlantic:
"Within a month of becoming China’s leader in 2012, Xi specified deadlines for meeting each of his “Two Centennial Goals.” First, China will build a “moderately prosperous society” by doubling its 2010 per capita GDP to $10,000 by 2021 ... If China reaches the first goal— which it is on course to do—the IMF estimates that its economy will be 40 percent larger than that of the U.S. (measured in terms of purchasing power parity) ...
"As the Financial Times’s former Beijing bureau chief Geoff Dyer has explained, “The Communist Party has faced a slow-burning threat to its legitimacy ever since it dumped Marx for the market.” Thus the party has evoked past humiliations at the hands of Japan and the West “to create a sense of unity that had been fracturing, and to define a Chinese identity fundamentally at odds with American modernity.” …
"2015 RAND study found that by the end of 2017 China will have an “advantage” or “approximate parity” in six of the nine areas of conventional capability that are critical in a showdown over Taiwan, and four of nine in a South China Sea conflict. It concludes that over the next five to 15 years, “Asia will witness a progressively receding frontier of U.S. dominance.”