If China dominates an economy and writes treaties that benefit their economy and not yours ie. parts of a car need to have x amount made in USA - they can put your country into a recession, since their won't be jobs for those living in the USA. You need to reseach exactly how much trading compared to the whole that China does with the US - cause I don't know the number. Will give you a guess at the possible damage.
Worst case scenario
So, China's booming, USA, Cda, Europe is in a recession - what happens to your standard of living?? Decreases. What happens to you wages so you can compete - decreases. What happens to your military spending - decreases.
They have no intention of actually concuring and running the world. Why bother when you can control it under nice legal treaties.
That's the fear.
Sheri