RTFM, a few points for your consideration:
1. China has no interest in competing with the US on any battlefield other than the market place. China is a rapidly growing economic power house with nothing to gain by getting into a military pissing match with us and everything to lose. China is economically dependent on the US. Without us buying the stuff they make their economy would rapidly go down the drain.
2. China is rapidly becoming more like us, freedom is becoming more prevelant, and capitalism is becoming the norm. The more this trend continues, the less likely military conflict becomes.
3. While it's true that China's military is huge, it is far behind ours. Force projection is the name of the game, and China is incapable of of it. They have a huge standing army and no way to transport it anywhere. Their AF consists mostly old technology and under-trained pilots They have no blue water navy and the navy they do have is also undertrained, not to mention oriented towards coastal defense.
Chine is taking steps to improve this situation, but they are playing a massive game of catch-up and they are losing. Keep in mind that we outspend the rest of the world combined in defense. We are not exactly resting on our laurels. China knows all of this.
Our only true sticking point is Taiwan, and all rhetoric aside, I doubt that we are ready to go to war with China over Taiwan. Even if they did invade, which I doubt, we would park an aircraft carrier of the coast, make a lot of diplomatic noise, and that's about it. Just my two cents, ymmv.