I think the Chinese have learned from our (Soviet Union & the West) mistakes in space. They know it's pointless to go to the moon for political reasons only, if they go they'll have a plan to exploit the capability. If they go it alone, the capabilities to do that exploitation won't be available in the near term.
Our Chinese friends want a seat at the table - i.e. cooperative space ventures. We should give it to them, keep your friends close and your enemies closer & all that..
The next humans on the moon will be an international team of some sort. They'll figure out a way to send two people down the ladder at the same time and avoid the whole Neil/Buzz who goes first nonsense.
Likewise, the Obama administrations plan to lasso and explore an asteroid - assuming it goes ahead, will morph into an international program. ESA and NASA are already cooperating on Orion/Service Module, maybe BRIC countries will do the lander/habitat/propulsion module. We'll have to figure out how to divert an asteroid sooner or later anyway... May as well do it as an international program and share the benefits / costs / technology.
More likely though there will be another 9/11, energy crisis, religious uprising, or economic calamity to get in the way and absorb resources...