Then you are asleep my friend, because with their growing economies and huge populations they are going to blow by the US and Europe very soon.
Not true at all. GDP per capita is pitifully low, economic growth is based on unsustainable development and foreign investment, and the governance is anathemic to a vibrant market economy.
Exactly. The US is 4% of the world's population and that figure is rapidly shrinking. China's middle class is now much larger than the entire US population. Meanwhile, our middle class is dwindling.
What is considered "middle class" in the People's Republic is considered living in poverty and squalor in the United States. The actual number of people in China who live a middle class lifestyle based on European or North American standards is a small percentage of the population.
They're really going after the dollar. I think that's a good thing. This one-currency domination thing is not good for the world's economy.
They are not "going after the dollar." If they did, they would lose their tight grips on their own currencies. In the meantime, they keep buying US Treasury bonds.