"Chinese President Hu Jintao has expressed concern over the rapid speed of the country's economic development," according to the BBC.
The Chinese Communist Party will do anything to stay in power, including shooting as many of its own people as necessary. In the aftermath of the Tienanmen Square slaughter in 1989, it made a deal with its people: in return for the people staying out of the political sphere, giving up any hope of free speech or freedom of the press, among other things, the government would promote a new capitalist economy to help the people. Shut up and go make money. This has now led to the fastest capitalist economy in the world. So fast, in fact, it is now scaring the hell out of the the thugs in power.
The BBC says the "blistering pace" of the Chinese economy's growth is giving the Chinese leadership a "headache." People worry the economy may be "overheating." President Hu worries that people in the countryside are not sharing in the wealth of capitalism. And the BBC reports that President Hu said: "We are also concerned about saving our resources, environmental protection and the improvement of our people's livelihood." Given all the reports of expanding environmental degradation in China, as well as the increased impoverishment of uncounted millions in the countryside, President Hu is understating reality. The rest of the capitalist world had better listen.
The cat is out of the bag, the chicken has flown the coop, Pandora's Box is open. The Chinese leadership is finally understanding the basic mechanics of capitalist growth. It is voracious when left unchecked, and humans will take every advantage of its power to create wealth that they can.
In the face of this out-of-control capitalist growth, the Chinese government can do one of two things. It can let the forces of capital mushroom out of control, or it can go back on the "deal" and begin a process of political and military restraints which are going to anger tens of millions in China, upset a world economy, and ruin many new global corporate relationships in the process.
The Chinese Communist Party Central Committee made a deal with the devil capitalism. That deal is not only now biting them on the ass, it has the potential to bury them. This is what they are discovering. And if the Chinese leadership persists in its desire to maintain political control of China under any circumstance, an economic and political blowup are inevitable in China.