The June issue of The National Interest has an informative article by David Shambaugh: The Illusion of Chinese Power. Shambaugh argues that the current fad of portraying China as the new rising superpower is overblown, and that on closer examination the nation looks much less impressive. Yes indeed, it does have the largest population, the largest army, the second largest economy, etc, etc. But for a variety of reasons these do not translate into as much global power as many pundits assume.
It is an article worth reading to put some perspective on the China hype of some other authors.