An article in PokerMag.com argues China's Economic Miracle Is Just Another Internet Bubble

With the country's reputation for exploiting technology transfer through copycat theft and for pirating intellectual property, it's unlikely that IT will be China's salvation.

Instead, it's just as possible that China will remain a low-end manufacturer exporting to an increasingly depressed world market and never moving to the next level of the food chain. Victimized by decades of extreme revolution that ruined traditional value systems and culture, the Chinese have been plunged into a state of ruthless market competition that has left them socially and spiritually lost.

I guess the article's in PokerMag.com because:

China's nascent financial markets are little better than government-sponsored gambling casinos in which speculators and inside traders grow wealthy.