The credit crunch and political paralysis in the western world has enhanced speculation about the future of China, a country which superficially seems to be doing so better than Europe or America. The headline economic growth rate in China in the three months to June 2011 was 9,5 per cent, against a figure of 0,2 per cent for Britain and 1 per cent in the US. It is little wonder that western politicians eyeball China’s trajectory enviously. Meanwhile, China’s growing economic weight has not only made it indispensible to solving global economic problems, but also seems to be translating into growing political and security influence as well. If one was needed, a reminder came recently with the launch of the country’s first aircraft carrier.