The current recession means that people are cutting back on unnecessary expenses, like buying more "Made in China" stuff. Meanwhile, China needs to maintain employment to avoid internal unrest.
China's leaders are disturbed at the idea of their economic bubble bursting. They may be tempted to go on adventures, to seize by force the resources they need to hold off economic collapse.
I think that countries like China and Russia/”Former” USSR are going to get really aggressive soon, and not towards each other. They are going to come straight at the US.
They have another serious problem also. Lack of women. During the one child per family program, girl babies were killed in order for the family to have a male child.