There has been lots of news of late on how China will the world's next super power and how the decline of the west is certain. While I too tend to lean in this direction, I believe the process will be far more drawn out and less bumpy. I believe we are seeing the process unfold in terms of investment with Chinese industry as well as their over all economy. Hedge Funds like Adam Roseman's ARC China is a real world example of investment in local Chinese business arenas.
There are many sovereign wealth fund that are eying China and beginning to raise their investments there. Qatar and Kuwait are just some of them. All and all I believe the transference of economic hegemony will be quite peaceful and will take place over a long period of time.