At the end of the 90's , the chinese GDP was less than 1000 billion US dollars. Less than the belgian and dutch economy combined. Now, it's 2/3 or 3/4 of the US economy. And that is in GDP. In terms of PPP, the chinese economy is bigger already.
Western companies have huge investments in china. Many big companies like GM, apple, volkswagen, Daimler, BMW depend for 20% or more of their total turnaround on china. That means that pension funds, banks, etc, would collapse if a trade-war between the america and china would happen.
So that means that no single western country can make it's own economic policy without any chinese consent (same the other way round). Politicians don't inform the punlic about this ofcourse.
And the EU is effectively dead. It cannot do anything anymore, it's paralysed. There will Always be some memberstate blocking EU-policy. And if EU-policy is not blocked by some national parliament, it will be done so by some referendum.
And to china, each EU memberstate, even Germany, wich is the largest, is an economic ant.
China is technologically catching-up with the west, and is in some ways further, even. We not just depend on them in terms of export. Also in terms of technology, we depend on them. I don't know if apple could produce one single i-phone without chinese technology. I suppose not.
And all of this applies to the now. I'm not talking about the future, where china will likely dwarf the US and the EU combined.
No single western nation is in the position anymore (maybe the US a tiny bit, still), to make big decissions without dealing with china.
People here are affraid of muslims. But muslims don't stand a chance of defeating us. That's not even remotely realistic. China however, will defeat us, if we'll ever be so stupid to start an economic conflict with them. It's a country with 1.35 billion brains.