Yay!

We shot our own satellite out of the air and hit it on the first try!

It sure beats the alternative of shooting and missing. I didn't even know we had that capability, but now the whole world knows. Perhaps that will add a few years to the Pax Americana, with enemy nations always aware that we can violently confirm the adage "What goes up, must come down," regardless of who put it up.

As far as an arms race with China goes, whatever gave you the idea they were not running as fast as they could? Why, just a year ago they used a military missile to shoot down a satellite in high orbit! Let there be no mistake, the arms race is a race that all nations take part in and have taken part in for all time history. There's no winning, but never doubt the importance of the good guys remaining in the lead.