China's manned spaceflight program

So China's kicked off plans for an unmanned lunar landing in 2013.... a manned space station by 2020... and who knows what else. While I applaud whomever has the determination to explore space to "boldly go", it's still sobering that the US will no longer hold the cards for the first "flags and footsteps." Does this bother anyone else on some level? What else are you hearing out there regarding China's growing space capabilities?