My biggest worry about China is energy use! From what I read, they are an environmentalist's nightmare. And that while still being a "developing" country... It has the potential to get much, much worse.
I hope China can "develop" without reaching the insane per-capita energy use of, say, the United States. If they do grow that energy-hungry, our planet will be charred ashes.
BTW, I haven't done much research on this, so if anyone can authoritatively (citing sources) either agree or tell me to get lost, I'd love that. I'm just going on a bar graph I saw once.