The United States should prepare for an “ascendant” Communist-led China, according to a report released by Rand Corporation, a US government-funded think tank.The compilers of “China’s Grand Strategy: Trends, Trajectories and Long-Term Competition” examined how successful the Chinese Communist Party was likely to be in achieving the goals it has set for the country by 2050.In doing so it considered four possible futures in which China is either “triumphant”, meaning it has achieved all of its…