China Has Carrier-Killer Missile, U.S. Admiral Says -- Washington Timeshttp://www.washingtontimes.com/news/2010/dec/27/china-deploying-carrier-sinking-ballistic-missile/
China's military is deploying a new anti-ship ballistic missile that can sink U.S. aircraft carriers, a weapon that specialists say gives Beijing new power-projection capabilities that will affect U.S. support for its Pacific allies.
Adm. Robert F. Willard, commander of the U.S. Pacific Command, disclosed to a Japanese newspaper on Sunday that the new anti-ship ballistic missile (ASBM) is now in the early stages of deployment after having undergone extensive testing.
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Update #1: China’s Military Surprises -- Jason Miks, The Diplomat
Update #2: U.S. commander says China aims to be a 'global military' power -- Asahi.com