I've taken in your input and revised the essay. It is pasted below:
TITLE: Why the world (and the United States in particular) should have reason to worry about China
In a time of fiscal troubles, floundering democracy in the Middle East and a sinking European Union, the last thing for the United States to want to think about is the long-term threat China poses to United States hegemony. The arguments in China’s favor are solid. China’s economy has been the engine behind a decade of growth, and Chinese investments have helped rebuild whole infrastructures (notably that of Angola). However, China does pose a strategic threat in the long term. The heavy-handed condemnations of Japanese nationalism, the jingoistic disputes with the Philippines over rights to minerals in the South China Sea and manipulative usage of China’s own currency are all signs of a boisterous rising power. However, if history has taught us anything, it is that a country like China poses a threat to the long-term security of the United States. The main question is how the United States should respond to the threat.
China’s economic and military growth draws sharp corollaries to the rise of Imperial Germany after unification in 1871. After defeating the French in the Franco-Prussian War, Imperial Germany rapidly industrialized. However, Germany’s growing strength posed a strategic threat to Great Britain (then the most powerful country in the world). Britain realized the strategic threat of Germany when the Reichstag passed the first of many Naval Budgets that appropriated significant amounts of money for battleships and other big-gun warships. The ensuing arms race was realized in the First World War. China’s growth may not pose threats so dire that nuclear war is inevitable between the it and the United States, but the consequences of letting China rise unabated are numerous and potentially crippling.
The world, however, has been reluctant to condemn any actions by the Chinese. They have good reasons to not condemn China. As it is, China, unlike Iran, is not actively defaming the United States and explicitly threatening U.S. allies. China’s growth has been an anchor for the global economy, and its rapid growth paved the way for economic success in the past decade. The developed world is convinced that China is becoming less authoritarian than it was in the past, and condemning China may be counterproductive to global goals for China. With that in mind, the global economy welcomes the rise of China. However, there are cons to China’s rise. China’s emergence on the global stage was driven by a state capitalist system that kept all “private” sector profits. Any economic activity was closely monitored by the People's Liberation Army and the Communist Party. What is especially nerve-wracking for businessmen is that they are blocked from purchasing any entities that have possible strategic significance, such as telecommunications, energy and the military-industrial complex. However, Chinese businesses are free to invest wherever they please in the United States, as restrictions are not as tight as those in China (by a large margin).Though the United States has invested far more in the military, China has focused their military in the Far East as they seek to achieve regional hegemony. Their government has made incredulous claims over parcels of land in an attempt to achieve regional hegemony. The recent diplomatic row with Japan is only one of numerous diplomatic rows China has kicked up in an attempt to achieve regional dominance over their neighbors. China has retained claims in Taiwan and Vietnam which date back to the Qing Dynasty (which fell in 1912). The diplomatic row that they kicked up with Vietnam and Taiwan over the Paracel Islands this year is just another example of China’s boisterous policies.
With all the signs of a diplomatic storm brewing, it is often surprising to hear that the United States has not found a reasonable solution to China’s growth. The USA’s inaction is well founded. If the United States does nothing, the problem will not go away, but it will not be exacerbated. However, if the United States tries to act too strongly to counter the growth of China, the Chinese government may interpret the actions as imperialistic, and that would inseminate anti-American sentiments in the region. In a time when the United States is at loggerheads with China in the UN Security Council over intervention in Syria, bombastic condemnation of China would be counterproductive to US goals in the Middle East. However, if the United States acts too weakly, the US risks another Munich, where overly conciliatory tones would be interpreted by the Chinese as a sign of the decline of the United States. That would give the Chinese reason to step up the diplomatic pressure on their neighbors to cede territory because it would be the go-ahead signal for China to try to fill in the shoes of global hegemony. With two vastly different consequences, it is believable that the US has found it so hard to compromise such different views.
The United States, however, cannot remain idle. The United States should use a semi-strong approach towards China’s aggressive jingoism, warning the Communist Party that they cannot bully US allies with their military strength. Joint military exercises in neutral locations with Japan and the Philippines would send China a clear message on whose side the United States is on. Joint military exercises would be a part of the US transition from the Middle East to the Far East, pulling troops from Afghanistan for duty in the Pacific Theater. However, the United States must avoid the impression of being imperialistic when warning the Chinese and while deploying troops, as such may give the Communist regime in Beijing reason to antagonize the United States and that would have consequences for the US (notably a possible Chinese demand for their money). However, the diplomatic overtures are only a piece of the puzzle. The United States must also back up Japan, Vietnam and Taiwan to show China that a threat to allies of the US is a direct threat to the United States. And, above all, the United States must continue to pay off their debt to China and balance the budget before China finds another market to invest in.
The United States is thus faced with a problem that can be solved. If the US adheres to a three step plan of direct overtures, increased military presence and economic growth, the United States can tame the tide of Chinese jingoism. However, American policymakers do not have all of time to act. If China can find other economies to pour substantial investments in, they can demand their money back. Such a move by the Chinese would cripple the US economy for years, even a decade. By then, the Chinese would have achieved their goal of global hegemony, and the United States would only be able to watch from the sidelines, mired in economic calamity. So, quite frankly, the United States of America has a ticking time bomb on their doorstep which policymakers have to defuse before it’s too late.