The importance of China has already become visible in US-dominated financial institutions. For instance, the IMF added the yuan, the Chinese currency, into its basket of reserve currencies. Moreover, China created its own financial institution — the Asian Infrastructure Investment Bank (AIIB) — as an alternative to the institutions led by the US.
At the same time, Beijing is also pursuing a clever strategy in military and geopolitical fields. In the Middle East, the Chinese have joined an alliance with Russia, while in Africa it is planning to build its first military base in Djibouti, one of the key trade hubs and strategically important territories in the world.
China's activities and its — both political and economic — expansion have alarmed the United States, who are anxious that they may lose their positions as the only superpower in the current world order.
The Chinese are coming into direct conflict with US global interests and are making Washington nervous, DWN wrote, adding that the Americans are now having the new experience of dealing with China as an equal opponent.