They also have 6 times the people to tax
If their efforts to develop their nation into an economic superpower are successful then they would be a real force to be reconed with.
I don't think that will happen until they free-up their society. I'm sure there are exceptions, but for the most part, Communism kills creativity. Only when they adapt a more open and capitalistic society will they truely unleash the full potential of their 1.2 billion people.