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The rise of China to rival U.S. may take longer as it sorts out domestic issues

Posted by Matt in January 26th, 2007

DAVOS, Switzerland: Last year, political and industrial leaders meeting here cited the rise of China as the No.1 long-term threat to the mighty American superpower, more so than the chaos in Iraq.

But recent evidence of the magnitude of the domestic challenges Beijing has yet to overcome suggests that China is unlikely to overshadow the United States over the next two decades, in the view of a number of participants this week.

Even Chinese officials are talking softly of the country’s rise.

To many of the leaders gathered for the World Economic Forum, all this raises the prospect not of one superpower being replaced by another, but instead of U.S dominance being succeeded by a multipolar world, with several powers — including China — vying for dominance.

“The rise of China is inevitable, but other powers are rising as well,” said Victor Chu, chairman of First Eastern Investment Group in Hong Kong. “In today’s world, the very concept of empire is old-fashioned.”

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