They are becoming the next economic superpower, but they will have to learn about things like quality control, emissions standards, effluent clean-up, employee rights, and all of those nasty little laws that make it more difficult to manufacture in the U.S. And in fact China is afraid because this problem truly threatens their climb to power. That is why people are committing suicide and being executed. But, one must ask, why hasn't the Chinese government [excuse me, a Chinese company] EVER issued a voluntary recall throughout all of this; starting with the poison pet food? Why do we have to inspect each product in order to find any problem? The fact is that they have never had to play by any rules so they have a lot to learn. Not to mention that they are stealing more US technology and copyright protected material than we can even track. This too must stop. China has to learn how to stand on its own without constantly cheating.
If it wasn't for our own government selling us out for the sake of big business, China would have been in trouble long ago.
As Alvin Toffler pointed out, the first rule of predicting trends is that no trend remains a constant. China has been skyrocketing to success, so that is bound to change as they begin to pay the price for success.
Did you see that the Olympic committee is worried about holding events in Beijing? The pollution is so bad that it may make the extended competitions difficult and dangerous. This, as compared to the Los Angeles Olympics in 1984 [I was there], where the skies were crystal clear and blue. Although this was unusually good for LA, even the worst day in LA is better than the best day in Beijing.
Oh yes, and the long time favorite of government subsidized dumping designed to destroy the US competition has to stop as well. Again, given a level playing field, China will find the world very different from the one it knows.