I am beginning to think China is a country with more democracy then the US. I can't wait when China is the most powerful country in the world, and knock US off the rank. 
You may get your wish, but the recent experience of countries like the Philippines gives a preview of how much fun it is to deal with an ascendant China.
There is no doubt that US power is eroding and the NSA spying is horrible but there is still a lot of idealism in the US and its problems are on the front page for everyone to see. Many other countries try and hide and cover up their problems often attempting to deflect blame somehow to the US.
Actually according to the history lesson, China explore the entire world in 1405. They were peaceful and just do trading and visiting different countries. http://www.economist.com/node/5381851
Whereas, when the Westerner explore around the world in 1492. They went around conquering different countries and killing other native people to steal from them.
If China become the most powerful country in the world. There will be no more war. Unlike the US, which love war. If you look at all the history, how many countries have they ruin? Just recent years; Vietnam, Iraq, Afghanistan, and they are targeting Iran next. How many war has China started in the recent years?
I do believe the world will be a much more peaceful place to live in.