One could argue that China IS the rapidly raising 'upstart'.
At the end of the day, despite how American and Western commentators always want to make it seem as if it is up to China if there will be a military clash between China and America, the simple fact of the matter is that if war does break out between China and America, it will almost certainly be America that starts it.
The biggest fundamental problem between China and America is not democracy, human rights or even trade and economics, as these shallow thinking commentators like to propagate. The biggest problem in Sino-US relations, from which all other problems ultimately originate, is the simple fact that America cannot, and will not accept China as an equal.
As long as America thinks and behaves as if it is somehow superior to China, the Chinese will always have a problem with America, and Americans will have a problem with China for having the audacity to dare to think themselves as equals and demand fair treatment.
As China develops and modernizes, the balances of power will continue to shift in one direction, but America is unwilling or unable to face up to that simple fact. Instead of accepting it with good grace and trying to negotiate an orderly transition of power and embracing Chinese ascendency in order to guide it as a mentor, America is doing all it can to resist the trend, and most Chinese would suspect, trying to thwart and set-back China wherever possible. In doing so, it is making itself the enemy in the eyes of many Chinese people.
That creates hostility and in a way, perpetuates the whole process as Americans sense the growing dislike. But instead of examining the true source of the Chinese sense of grievance, lazy commentators like the one who wrote that FT article simply shifts all the blame onto the Chinese by insisting it's Chinese nationalism that is to blame, and advocates a tougher stance against China, because they insist, appeasement is wrong.
It is the exact same mistake that America is continuing to make in its understanding and attitude towards the Arab and Muslim worlds. American commentators overwhelmingly maintain that America has done nothing wrong, and that people in the Arab and muslim worlds hate them because they are extremists and terrorists, and has nothing to do with what America itself has done and is continuing to do.
I maintain the the only thing worse than someone who is ignorant of historical lessons is someone who wrongly interpret those historical lessons.
China is not Nazi Germany or Imperialist Japan despite how much certain wester commentators wishes it was, it is as complex as it is unique. If one insists on drawing a historical parallel, the only appropriate one would be the rise of America itself. But Americans hate that idea because they see themselves of unique and superior to everyone else, and cannot tolerate an equal.
Unless America can face up to, and accept the fact that they are not masters of this planet, and practice the tolerance and understanding they claim to value so highly instead of just using them to hector others with, in a case of do as I say, not as I do, I see an armed clash as very likely between China and America.