Agreed. These are the same Chinese authorities that refuse to publish key economic statistics, or blatantly make them up. They also have trouble keeping track of government debt -- just this week there were reports about regional government loans that have been kept hidden. And then there's the housing bubble developing in the major cities because it's been so easy to get private loans the last two years.
Chinese officials can do many things, but they aren't magicians, and won't be fixing anything overnight.
Sure, 'twas obvious sarcasm, my bad. But there are good reasons for China's economy to grow sustainably for some time yet (emerging middle class, manufacturing going more high-tech, etc). They have major structural problems too, but it's not all doom-and-gloom like Japan is/was.
Chinese officials can do many things, but they aren't magicians, and won't be fixing anything overnight.