Many contend that China is no longer a threat to the global economic leading nations. Their reasoning is because oil prices have changed the game and China is not causing price spikes due to her thirst for energy and oil. Others say that with the Shanghai index losing some 20% in a matter of a week, that her economic engine is sputtering. Still others point to China's export numbers off over 35%. But let's not forget the World GDP average is down some 8% over all.
So nations like Germany and Japan may think they have some breathing room to China's rapid advancement for GDP rankings, but I assure you, that it is temporary in nature. And realize that China does not have to be a threat to appear threatening to the world.
Anyone that says China is no longer important would be missing the point, and watching too much world media economic or political punditry TV. China is a significant player and will be from here on out. Whom China aligns herself with will be important, but in the end China is still a force and power, and she isn't going anywhere.
So, when asked; "Is China a Threat to the Current Global Economic Leaders?" the answer is clearly yes, yes she is, nothing has changed in that regard and anything you see or hear is temporary in nature, and over the course of the next decade not even a hick-up or a speed bump really. Please consider this, because China has it in the Bag!