Economic power centers upon those who make things and sell them to the world. Cheap labor has always been a component. When labor becomes expensive, economic power wanes. Along with economic power comes military might... lots of money to build military and buy weapons. So... where do you think that leaves China? And the USA?
china has a big problem with internal sercurity, spends more now than it does on external security. they have at last count 3 years ago 90,000 plus yearly public demostartions. these are stories that never get out lots and lots of internal problems. environmental problems we wont even touch