What's the big deal? The real questions are: how competitive are China's mass-produced goods (e.g. quality) and what sort of export-earnings are associated with those goods. "Made In Japan" used to be a signal of poor quality, now its the standard in certain types of so-called high value-added goods. On the other hand, the UK in the 19th C was a "leader" in manufactured goods and look what happended vis-a-vis the US. I'm not sure economists have a "full story" to tell about China. Jason
