Ok whether we like it or not China has already risen. America hegemony has given way and the world is headed once again into an era resembling the cold war.
Since the end of the cold war American system of governance has been taken as an example in many countries and sometime successfully implemented. But with the rise of China, with its communist ideals and heavy hand used to implement them, their "successful' system of governance is being cited by despots who are using or will use the same heavy hand in order to bring the prosperity that the Chinese now enjoy.
This of course brings us back to the age old question, Liberty for Security? Liberty, yes, cause security ain't worth shit if there is no liberty.
Countries across the world should be dissuaded from using the Chinese as an example. India on the other hand despite all its flaws has been enjoying a rise in power along with China. Indian system of governance resembles the American system. Though the Chinese are far ahead, India has found its voice on the world stage as seen in its actions at Copenhagen or its recent siding with Iran on the nuclear issue.
Imagine a world where an opinion cannot be stated without the fear of punishment, and no freedom of press and speech. Thats where this world is headed if China get to be at the helm.
No this is not fear mongering.