Impending economic woes for the Middle Kingdom

China has a booming economy now. They are a world power, and they will be for quite a while. But not like people think. Having seen China's 60th anniversary firsthand while studying abroad I can tell you that the image they have in the media is carefully constructed. For the uninformed, 2009 was China's 60th birthday under the PRC. I saw the ceremony on tv from my dorm at Tsinghua University. Lot's of tanks, lots of soldiers, and lots of pleased leaders. At night, I joined many local Beijingers standing outside the south gate of the Forbidden City as fireworks lit up the sky above. Anyone who caught the Olympics saw how extravagant their show was but it's nothing more than that. China's economy is nothing to be afraid of. The bubble is about to burst. Check this out.