China's growth over the last two decades has been remarkable. In 1995, its economy was half the size of the UK's. Today it is six times larger. For the most part relations with the West have been calm if not entirely friendly. But from trade wars with the US to sabre-rattling in the South China Sea, and an arms race in space, tensions are increasing.

Are we wrong to assume that the transition towards Chinese economic dominance will be peaceful and benign? Or will the transition prove deeply unsettling for the world and threaten its stability? Should we see China as a long-term ally, or as a potential threat to our way of life?

Foreign secretary under John Major, Malcolm Rifkind, founder of chinadialogue Isabel Hilton and former Lib Dem leader Vince Cable debate the West's future relationship with China.