According to cnn.com, china is very upset that we are going to develop a missle defense shield.  They are mostly worried that we would sell the technology to Taiwan and Japan.

Lets all have a moment of sympathy for the chinese....

Looks like all of the sabre-rattling has come down to one simple fact, china is not a super power, it is a glorified third-world country that has made a name for itself by instituting backwards dogma (communism) and intimidating defensless countries like Tibet.  Now that they are facing a real competitor, they want us to "play fair", where was fair when they hit our plane?  Where was fair when they annexed Tibet?  To hell with them.  Now they realize that all of the nuclear technology they have attempted to develop is exactly what it was, old news.  Come on morons, launch your missles at us, we will shoot them down and turn you miserable country into a giant parking lot.

Fair my ass, if they could develop the technology you know they would, and then try to annex other countries they have called renegade provinces.  

In my opinion they are getting what they deserve, defeat.