The Chinese military recently launched its first aircraft carrier, a technology the United States has had for more than 70 years. As China's influence on the global economy increases, so will its military hardware. With over a billion people, the size of China's military isn't in doubt. They simply lack the hardware (planes, boats) to conquer anything yet. Give them 20 years, and the Chinese military will be a major player in the world scene.
Is China a threat to international stability? And Does China represent a growing military threat?
THE WORD THREAT is important and brings Bias and Flawed Concept within these questions to light. Geopolitics is fairly new in our world. Especially as we only recently discovered most of the civilization on this earth( pretty sure there're still some tribe in the amazons we may not have welcome to the international community yet.), The World IS at a constant shift, much like a river. Great powers may slow that shift as it's in it interests but the changes of geopolitics is a reality. Such as Great Britain VS France to USA Vs USSR. The better question is Do you accept that shift. IF you say yes than China IS NOT a threat to international stability. IF you say no then it is. For me China is changing mainly regional status quo With and Against its neighbors. While china is shifting Geopolitics in its interests, it is not threatening the world stability. In other words, China is much of a "threat" as US is and was during the 19-21 century. It Really depends on what day/month/year it is.
As for the military threat, it varies on who, if we're talking about Iceland than NO China doesn't represent a growing military threat. If we're talking about Japan, than yes, as they have disputed island with ADIZ overlapping. Second is concerning where China is with it's military and its goals.
China is modernizing it's military as any sovereign nation should and could. So what lead to that goal. Isn't 2 million active soldier enough? ONE WORD HISTORY. For example in WW2 (for the Chinese it was 1931-1945) when Japan invade Manchuria, China had an overwhelming manpower when compared with that of Japan but due to lack of resources, will and vision. They simply surrendered to Japanese during that part of the campaign. You could ask, well China military strength should able to deter any Challenge of China today. Well no, Taiwan, Korea, and Iraq are/were all key events in this desire to modernize. Taiwan is currently under the protection of USA, who the PRC considered a rogue provinces and core interest. The USA has made political and military moves to maintain the status quo with it's superior military spending and forces. Korea could at any moment ignite not on part of China but north Korea. While China and US have been attempting to claim this S.O.B. Down when it comes to it. They'll be at the opposite sides. And IRAQ the key to China desire to increase their military abilities. When the Iraq was defeated in both wars. Many of China purchased equipment were in uses by the Iraq forces. For the most part they were streamed over. Any military realist in China, would have woken up. So they began to increase modernization programs and as well change their strategy for war. With a more short term, technological engagement involving a powerful navy and air force.
No, China is not a growing military threat to international stability, because China is not an aggressor in conflicts. China talks every once in a while, but much smaller countries with much smaller populations have caused many worse wars than China has. Even though China is large and rich, they generally keep to themselves. They are a good neighbor in the international community.