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I can't find the article now, but last year China's own defense minister was talking about the firepower of the US Carrier fleet. In his comments he said that China could deal with one Carrier group, and possibly even two, but three or more would be over whelming air power.
These days more than ever the most important thing is air power. A fleet of 5 US air craft carriers would be able to decimate China from a millitary point of view. It's important to remember that being superior from a millitary stand point and taking over and occupying territory are two different things. The US would not need to and would not be able to occupy China, but they sure as shit could pound them with conventional weapons.
All of this is changing as China works hard to upgrade their technology and does not take in to consideration nuclear arms.
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