Will the rise of China as a Great Power consolidate or destabilize regional peace and security?

Given the animosity between Japan and China or Taiwan and China, it would be a massive destabilization.

It would probably destabilize the regional peace and security of the region, but expect it to stabilize over time. You see, China is a rising power that would have to contend with Japan and South korea, two important states in the region that are backed by the United States. A rising China that attempts to become hegemon of the region would scare off the United States, who will undoubtedly lose power in East Asia. Ask yourself this question, if you were China, wouldn't you make an equivalent "Monroe Doctrine" telling outsiders to stay off East Asia, just like the United States did with the Western Hemisphere? there would be some instability at the beginning between Japan and South Korea against China and its regional bloc of allies. However, once China defeats them in war (it would have to become a military power if it hopes to become the great power of Asia), China would effectively become the big boy in Asia. If it would be as powerful as the United States, I cannot say, perhaps we will see a return to a bipolar world divided between China and the United States.

China has a major problem. Even though they want to have the kind of influence the US has they are almost 100% reliant on the US, giving us a huge amount of control over them. (over 80% of what they make is sold to the US) They won't truly be able to influence the Region and the world till they start selling to everyone and not just the US. They are to reliant on US companies that manufacture there.

neither because china will get bigger then screw it up royally like they always do and be back to horse and buggy days in 20 years or so.

if they are so brilliant why were they so far behind the rest of the world until about 20 years ago ?

Im guessing we will see both combination.