Speaking about Chinese threat. More or less okey'ish article from Tokyo-based "The Diplomat" about the capabilites of new Chinese ASBMs (anti-ship ballistic missiles).
China’s “Carrier Killer”: The DF-21D
By James R. Holmes
Commentators have made much of China’s DF-21D (dubbed by many as the "carrier-killer") anti-ship ballistic missile (ASBM), which reportedly entered limited service with the People’s Liberation Army’s Second Artillery Corps, or missile force, in late 2010. Their assumption, doubtless correct, is that the U.S. Pacific Fleet represents the ASBM’s primary target. But just as U.S. commanders plan for the hardest case—or against the most capable prospective foe—and trust that the resulting capabilities can handle “lesser included” challenges, PLA commanders can use the ASBM not just for anti-access scenarios involving the U.S. Navy but to pummel less formidable fleets. This is Beijing’s unseen big stick.
And a long arm brandishes it. Just look at the map of Asia contained in the Pentagon’s annual reports on Chinese military power. Rivals like Japan, Taiwan, the Philippines, Vietnam, and most of India all fall within the ASBM’s reach according to American estimates. (Scroll down to page 42.) That lets PLA gunners strike throughout the China seas, well into the Western Pacific, throughout the Bay of Bengal, and into the Arabian Sea—all without deploying launchers outside China’s frontiers. And if ships at sea are at risk, they’re even more exposed while sitting stationary alongside a pier or at anchor.
If the U.S. Navy appears flummoxed by the ASBM, what can smaller Asian navies do? It depends on the fleet. Relatively generously funded services like the Indian Navy or Japan Maritime Self-Defense Force have the option of building stealth features into their latest surface warships, such as the JMSDF’s contingent of Aegis destroyers or the Indian Navy’s Kolkata-class destroyers. Real questions linger about the PLA’s capacity to find targets at sea. The most lethal ASBM can do little without accurate, real-time fire-control data. The more elusive the ship, the better its chances of surviving an ASBM assault.
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Over the long term, however, the ASBM problem may warrant more ambitious countermeasures. Hardening naval bases against preemptive strikes is an obvious measure, if an expensive and thus unpalatable one. Asian capitals can also rethink the makeup of their navies. I have become a convert to the idea that East Asian fleets should disperse firepower among a host of small combatants that are cheap and can be built in large numbers; pack a wallop; can operate in wolfpacks; and can take shelter in caves and other havens that are hard to find or attack. Trying to sell officialdom on fast patrol boats could be tough, though. It would mean deemphasizing light aircraft carriers like the JMSDF’s “helicopter destroyers,” or the Taiwan Navy’s Kidd-class guided-missile destroyers, in favor of unglamorous small craft. Yet that looks like the best strategic option for navies inhabiting an increasingly hardscrabble neighborhood.
India is an uncomfortable exception to this advice. With ambitions spanning an entire ocean and perhaps beyond, New Delhi can hardly found a great navy on short-range missile craft. Hardening its bases, operating beneath the waves, and pursuing high-tech active and passive countermeasures represent its main options. The Indian Navy, in short, finds itself in much the same predicament as the U.S. Pacific Fleet.
//Well, in its tone it is certainly better than usual crap Billy Hertz of The Washington Post is spewing out only to support myths about "Yellow threat" in his attempts to earn some lobbyists money. Seriosuly people like Billy are threat to US federal budget and should be treated like this in war time :D

Expose and eliminate provocateurs and alarmists!
To the best of my knowledge last ASBM to enter service was some varinat of R-27 back in the early 1970s, so you could easily evaluate that Chinese are 40 years behind in their development. Since then ASBM niche was widely replaced with cruise missiles akin to P-700 (reported name Shipwreck) and alike collectively known as "Minerals" as ballistic missiles proove to be ineffective against US Navy CBGs (carrier battle groups). Merely the fact that ASBMs are entering service could proove that Chinese are either completely derailed in their understanding of military development, or (which is more likely) just doesn't have capabilites to create working and effective ASGM to threaten US Navy. Doesn't mean this isn't a threat to their neighbours though, as not having early warning radars to alarm that ASBM has been launched (unless Americans will share this info in time) could put them in danger.