From the Jamestown Foundation’s China Brief, via AsiaMedia:
One of Beijing’s worst nightmares seems to be coming true. Having apparently steadied the course in the Middle East, the Bush administration is turning to Asia to tame its long-standing “strategic competitor.” While this particular term has been shelved since 9/11 – and Sino-U.S. relations have improved thanks to China’s cooperation with Washington’s global anti-terrorist campaign – there are signs at least from Beijing’s perspective that Washington is spearheading multi-pronged tactics to contain the fast-rising Asian giant.
See also “Bush Pressures China on Currency, Taiwan” from Reuters.