Investor's Business Daily, by Staff Posted By: deepdish- Fri, 11 Mar 2011 02:35:51 GMT Supremacy: As Beijing resumes double'digit increases in military spending, a leading think tank projects China will achieve military parity in less than a generation. We'd better practice our bows. Back in 1907, President Teddy Roosevelt sent what became known as the Great White Fleet on a worldwide excursion that lasted almost 14 months. Four U.S. naval squadrons, consisting of four battleships each and their escorts, demonstrated America's arrival as a great power that would soon pass Britain as ruler of the waves.