China-U.S. Relations: Current Issues and Implications for U.S. Policy [Updated March 10, 2005] [open pdf - 140KB]
From the Summary: "A growing concern for U.S. policymakers is China's growing global 'reach' and the consequences that China's increasing international economic and political influence will have for U.S. interests. To feed its voracious appetite for resources, China is steadily and successfully seeking trade agreements, oil and gas contracts, scientific and technological cooperation, and even multilateral security arrangements with countries in Asia, Europe, the Middle East, Central Asia, Africa, and Latin America, and with Canada. Some of China's growing relationships are with key U.S. allies. Even if these trends are the benign consequences of China's economic development and growth, they may pose critical future challenges for U.S. economic and political interests. At the same time, these trends appear to have prompted Japan to seek closer U.S. relations as a counterweight to China's growing regional power."
CRS Report for Congress, RL32804