Brilliant! Go China!! 
Well, you see, I'm dubious. The logical side of my brain (which I try to not use all that often) tells me that it doesn't really matter. I think that the American response to Chinese taikonauts walking on the Moon will be "ho hum, who cares?" Because that seems to be the current response to just about any activity in space. Perhaps that is a justifiable attitude, based upon the knowledge that the United States is still leading in just about every other way in spaceflight.
But the emotional side of my brain says that I would rather see Americans up there again, doing something worthwhile, like gaining the experience necessary to send humans on to Mars. I'm reminded of a recent talk I heard where the title was "Leading, not drifting." The speaker's point was that a lot of other countries--including China--are going to be doing a lot of things on and around the Moon in the very near future, and unless the United States takes a leadership position, it's just going to drift rather aimlessly.
Yes, it could be that the US says ho-hum even after China lands on the Moon. The typical response being, "Big Deal. We did that over 50 years ago." However, what will happen when China starts making a significant number of firsts? Like the first four day mission on the Moon, the first woman on the Moon, the first landing on the Lunar far side, the first landing on a Lunar pole, the first two week mission, the first mission to stay a Lunar night, etc. etc. Two options could be an Apollo style recovery to catch up to China and then surpass them by landing on Mars or worse, stay at home.
Yes, it could be that the US says ho-hum even after China lands on the Moon. The typical response being, "Big Deal. We did that over 50 years ago." However, what will happen when China starts making a significant number of firsts? Like the first four day mission on the Moon, the first woman on the Moon, the first landing on the Lunar far side, the first landing on a Lunar pole, the first two week mission, the first mission to stay a Lunar night, etc. etc. Two options could be an Apollo style recovery to catch up to China and then surpass them by landing on Mars or worse, stay at home.
I think a possible response (at least from the American public) is "Who cares? We don't care about space anymore. We don't see spaceflight as a measure of a country's technological capabilities just like we don't see steam engine production as a measure of a country's capabilities."
I'm not saying that I would like that answer, but I do think it is a defensible answer.
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