CardSharp
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The government better starts act on the population problem soon. But overall I'm very pessimistic. As the Chinese economy grows China will become more like other developed East Asian countries/regions.
According to CIA World Factbook total fertility rate in China was 1.79 in 2009. Comparing that to other East Asian countries/regions:
223 Japan 1.21
224 South Korea 1.21
225 Republic of China (Taiwan) 1.14
226 Singapore 1.09
227 Hong Kong (PRC) 1.02
228 Macau (PRC) 0.91
As you can see the six countries/regions with lowest fertility rates in the world are all East Asian, and among East Asians, developed ethnic Chinese countries/regions has the lowest fertility rates.
At this rate I think East Asians are going the way of dinosaurs.
You're being too pessimistic. There is one thing that Chinese people are great at and that's making more Chinese people. (how else do you end up with 1.5 billion of us )