Singapore and Hong Kong are far too small and far too dependent on international trade to ever be powers in their own right.
I didn't say those places could be powers in their own right, but "hot-spots" complementing the growth of Mainland China. Urban
financial centers are an important aspects of economic power, and if you count those two urban superstars then the
Sinosphere has 5 of the world's top "
Alpha Cities" (not counting
Kuala Lumpur, where 43% of the population are ethnically Chinese). The English-speaking world and Europe still dominate, but this benchmark distinguishes China from Greater India (which just has Mumbai) and Latin America (which just has 4 -- Sao Paulo, Mexico City, Caracas, and Santiago -- but all are much lower on the list).
There are a number of reasons why China won't be a superpower starting with the fact that China still is less than a third of U.S GDP and that as it starts to close that gap its going to reach limits to its growth, the first being that China primarily is growing by bringing people en masse out of its rural heartland rather than by increasing efficieny, production, wages and so forth.
Those GDP numbers are based on China's artificially low currency, when you
adjust for purchasing power their GDP is actually 55% of the United States already. To claim that they can never surpass America's GDP is to claim that an average American will always be 3-4 times more productive than an average Chinese - that's quite a stretch.
As for natural resources - some of those 1.4 billion Chinese would love to move to Siberia (pop 25 mil), Kazakhstan (pop 16 mil), the Russian Far East (pop 7 mil), Mongolia (pop 3 mil), Alaska (pop 0.7 mil), or Northern Canada (pop 0.1 mil). It doesn't mean they can take those regions over outright, but they can influence their trade policy with China quite a bit. In the future it will matter less what nation the land belongs to rather than which nation can afford to buy the natural resources in question.
This poses a major problem in that China's population isn't infinite and much of its population would rather remain in rural areas than move to the coast, 500 million Chinese already live there and Chinas economy is dependent on 20 million people moving there a year.
What makes China remarkable is the possibility of it manipulating its birth rates to suit its economic needs. It was able to lower them with their One Child Policy, but if they find that they need a baby boom they could try to institute a Three Child Policy just as well. :shock:
Second its still a authoritarian socialist country whos highest priority is generating employment rather than making a profit, one of the reasons why China is a manufacturing powerhouse is China's banking system which gives out heavily subsidized loans to state owned enterprises and businesses.
It's authoritarian alright, but whether its "socialist" or not is up to debate. A country like that can't just turn on a dime, but everything they've done over the past few decades has been entirely pragmatic. Examples like Singapore demonstrate that you can have a top-notch wealthy service-driven economy while remaining as authoritarian as you want.
[...] Third China's economy is completely dependent on exports and thus cannot grow larger than demand for those exports.
It is dependent on exports, but not "completely". A nation of 1.4 billion people can buy a lot of stuff internally, and the 40+ million
overseas Chinese, who are disproportionally likely to be business owners, represent a far-reaching economic network. As the rest of the world grows in wealth, China will be able to do more trade with other nations while decreasing its dependence on exports to the United States.