Hegemonic Potential - China's Model Kingdom

There's a debate right now in Washington trying to think about, you know, some are arguing that China has a peaking power. What is hegemonic potential? Just how strong and powerful China could be? I would probably choose the former because China faces a host of domestic challenges as well as a not so friendly external environment at the moment. So I think what it's trying to do is develop domestic capacity to rely on itself for technology.