The Rise of China = Fall of the World Economy?

Nowadays it is almost impossible to talk about rapid modernization and economic growth without one uttering the words "rise" and "China". The rise of China this and the rise of China that. Everyone is quick to credit China for it's remarkable modernization and economic development and how its integration with the world has been nothing but positive. Yet the only person who was willing to dish out some of the blame for the financial crisis was Geithner and he was given a slap on the hand not just from Chinese officials but also from China-friendly US officials. Four months later NPR has stepped up to the plate and presented a brief and concise analysis of why China is partly to blame for the current world financial crisis.

It's an interesting piece and I'm happy to see that someone is willing to stick to China and at least dish out some blame even if they aren't going to take it at the expense of "losing face" and some legitimacy in the eyes of their people. However, I'm not sure if NPR's case about the culpability of China can come close to years of shortsightedness in terms of America import-export imbalance that has forced us to borrow ignorantly and endlessly to pay for these products as well as continuously print dollar bills while ignoring the fact that inflation will imminently get the best of us.