(First Ever) Chinese aircraft carrier nears completion

At some point, the U.S. Navy is likely to be denied unimpeded access to the waters off East Asia. China's 66 submarines constitute roughly twice as many warships as the entire British Royal Navy. If China expands its submarine fleet to 78 by 2020 as planned, it would be on par with the U.S. Navy's undersea fleet in quantity, if not in quality. If our economy remains wobbly while China's continues to rise -- China's defense budget is growing nearly 10 percent annually -- this will have repercussions for each nation's sea power. And with 90 percent of commercial goods worldwide still transported by ship, sea control is critical.

And now they are building their first ever Aircraft Carrier
Commenting on the reports, Lan Ning-li (蘭寧利), a retired vice admiral in the Republic of China Navy, told the Central News Agency last week that after being assigned to the People’s Liberation Army (PLA) Navy fleet in the South China Sea fleet, the carrier would be in a position to move in areas surrounding southern and eastern Taiwan, a scenario that would pose “a certain threat” to the country.

Even if Taiwanese vessels could block entry from the north and south sides of the Taiwan Strait, the “Shi Lang” would still allow China to expand its naval activities eastward into the Pacific, he said.

“That will make Taiwan vulnerable to enemy attacks at sea from both front and rear,” Lan said.Taipai Times article here