Naysayers overestimate the role of exports and also underestimate the size of the 'underground economy', says Shaun Rein, who estimates economic growth in China over the last decade to have been closer to 10-14% rather than the generally proffered 8-10%.
He explains why in the following article : http://www.forbes.com/2010/02/03/china-economy-bubble-leadership-citizenship-rein.html?boxes=leadershipchannellatest