Actually, labor prices are rising quite sharply in China while IP still goes unrespected...and so many companies are moving to places like Vietnam, Malaysia, and even Argentina and Mexico as fuel prices rise.
Also, the Chinese are fabulous at taking a manufacturing process and making it as cheap as possible, but are generally not great at innovation and design. If the world starts turning to other areas for production, it would be (and is) very bad news for the Chinese here.
On a side note, real estate bubbles are bursting left and right here in SW China. Good luck with that "we will make everyone rich" idea Mr. Wen.
None of this means that I don't wish them well. They are some of the most loving and welcoming people you will ever find, especially the further you get inland.