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This paper analyses the growth trajectory of China and related structural change to assess China's capacity to continue its rapid growth over the next decade. The evidence demonstrates that the multi-path approach undertaken has enabled China to transform its economy from low value-added towards high value-added activities through structural change from low to high value-added industries, as well as upgrading within industries. In doing so, China did not follow the neo-liberal advocacy of freeing markets. Selective state interventions facilitated China's transformation from an agricultural to an industrial economy over the last few decades. Upgrading towards higher value-added activities and the continuing strength of macroeconomic indicators, such as balance of payment and capital account surpluses, and low trade intensity of GDP and debt service along with significant deepening in human capital and R&D activities, suggests that China will continue to grow relatively rapidly over the next decade. To do this China needs to find solutions to growing deficits in power and water supply, and potentially dangerous political upheavals if growing economic inequality problems are not solved. [ABSTRACT FROM PUBLISHER]

This article first argues that states have not balanced against US unipolar power because the potential balancers do not view the United States as a major threat, because they believe it has benign security-seeking motives, at least with regard to other major powers. This explanation runs counter to the Brooks-Wohlforth argument, which holds that states are not balancing because the magnitude of the United States' power advantage makes balancing essentially infeasible. The second part of the paper challenges the conventional wisdom on the benefits of unipolarity, arguing that the benefits the United States derives from unipolarity are generally overrated. More specifically, US security need not be significantly reduced by growth in China's economy that supports a return to bipolarity. [ABSTRACT FROM AUTHOR]