Maybe economic growth in China is so high because it's still mostly a 3rd world country. Economic growth, historically, flattens out as economies mature. China is fighting significant internal economic issues - runaway credit, preferential lending practices to party owned or controlled companies, areas of hyper-inflation - that must be faced. They will face a few cycles of recession, maybe severe, as they continue to absorb dollars. Japan was in this position in the 70's and 80's, although they also had a scandalously over-valued real-estate market devouring a lot of free capital and generating bad loans.
By the way, they've announced that they are going to start moving to a market-basket currency model, which will push the Yuan up some. Such an increase can easily be absorbed in a low-cost labor market like China. The solution to the problem is to keep them moving towards the WTO and let them grow their way out of it. Economic growth will lead to political reform. You cannot have consumer choice on the scale available in China today and expect other forms of choice and expression to remain bottled up.
Japan, the EU, now China: seems we're always just moments away from economic doom.
Ah... but you are presenting economic facts... williegreen and oceanview lose you there.
if Japan had mantained an artificial currency peg, if they had slave wages and low living standards - the trade situation with them would be far far different then it is today. Toyota employs 200,000 americans in the auto business. China is draining US jobs in manufacturing and technology.
This is the common argument for dealing with Chinese tyrants. (ie. Yes, we are making the tyrants richer by buying more Chinese goods but eventually, the slaves will free themselves.)
When does that happen?
Making tyranny more profitable to a tyrant ends the tyranny?