I believe China is not a threat in today’s world. I think that China could become a stabliser in world politics by forcing the United States to change for a malign hegemon back to a benign hegemon. The ‘preventive war’ in Iraq could have been avoided if the US was forced to stand down by another great power. The US has held a dominant position in world politics for too long, 60 years this year!!
The US holds a veto in the UN, it has 17% of the votes on the board of the IMF giving it an effective veto over its decisions. This has gone too long. The US needs a challenge. Only China can give the US this challenge.
The EU might be able to challenge the US in the future, but would have to sort out its Common Foreign and Security Policy first. China is only viewed as a threat by some Americans who want the US to hold onto its dominant position in the world and stop other countries from reaching the same level as them.
China is becoming more accepted in today’s world, is this a threat? No, its a new possibility for European and American trade and investment. I do not believe China is a threat to anyone bar the USA’s dominant position in world politics