This prophecy speaks of a time when China will, for a short time, rise up and become a powerful global superpower, and will threaten to take down and destroy the other nations of the world, making them the only superpower in the world, and the undisputed ruler of the nations.  This will only be temporary, however, as they will eventually fall, be humbled, and fractured into multiple parts just prior to, or during a major revival,a nd turning of the country to Christ.  Until then, though, they will be the fiery red dragon to the world.