Obama hasn't figured out yet that China IS a world power. Worse, one that holds a lot of our "markers".
China is just testing out it's newly won economic muscle. I read somewhere that China made Australia back off on raising interest rates recently..... it wouldn't be good for China was the explanation.
Ah Ha! ..... but was the interest rate rise good for the Aussies? I guess we won't find out now.
The "only Super Power" on the planet (so we are told, at any rate) has created a contender for the crown, or, at the very least, a competitor. Too bad I won't live long enough to see how long China will be able to hold onto the brass ring.