Rising inflation in China is fuelling American concerns that reining in growth here could have negative consequences in the U.S.

Some fear that a cooling of China's overheating economy could hurt U.S. markets by cutting Chinese investment in U.S. stocks and Treasuries. And higher inflation, coupled with the 12% annual economic growth rate in the first quarter, is setting off alarm bells around the world.

As the two biggest developing countries, China and India are developing their economies rapidly. They are also the main economic powers in Asia.

Recently India's newly-appointed chief economic advisor, Kaushik Basu, said at the Federation of Indian Chambers of Commerce and Industry meeting that the country could possibly surpass China's growth rate in four to five years. He also added that this growth scenario was "not an impossibility". The news caused Chinese internet users to discuss the economic development between China and India.

Every five years since 1953 China's Communist Party leadership has come together to discuss and approve a plan for economic development over the next five years. The 12th Five-Year Plan begins in 2011 and this year the Party's Central Committee met in Beijing from October 15 to 18 discuss economic strategy. The key official objectives for the period include driving economic growth higher through domestic demand and achieving a more equal income distribution. But what do ordinary Chinese people feel are the most important tasks for the next five years? Our researcher Stella Chen Went out on the streets of Beijing to find out.

China's economic growth has been enormous over the past few decades. Many economists predict that 2010 will be the year it starts to slow down. But growth is still expected…especially when it comes to IPOs. And as Susan Tart will tell us, China is making waves in the IPO market.

China's National Bureau of Statistics is set to announce the country's GDP growth data for 2009 next Thursday. And it seems the country has defied earlier predictions of a sharp drop. It's now expected to easily meet the government's target of 8 percent – that's the figure it sees as crucial for job creation and ensuring social stability.

The economy grew 8.9 percent in the third quarter of 2009 - compared to 7.9 percent in the second quarter after a record low of 6.1 percent in the first. Analysts are now predicting a figure of between 8.2 percent and 8.4 percent for the year.

Based on this and other factors, one of the country's top think tanks is predicting a staggering 9.5 percent growth for the economy next year - 2010. The State Council's Development Research Center says the economy will be boosted by double-digit growth in real estate investment and predicts exports, a key driver of economic growth, will start to grow again in 2010.

So can such a high target be met? We went out and asked some Chinese people if they felt that 9.5% growth was practical.

David Moser invites guests to debate the unending topic of environmental protection. Is China showing its fair share of environmental responsibility? How does the term "fair share" relate to the stages of economic development?

The Obama administration unveiled a new national security doctrine last week that would join diplomatic engagement and economic discipline with military power to bolster America's standing in the world.

Faced with a struggling economy and record deficits, the administration also acknowledged that boosting economic growth and getting the US fiscal house in order must be core national security priorities.

And, striking a contrast to the Bush-era emphasis on going it alone, President Barack Obama's National Security Strategy called for expanding partnerships beyond traditional US allies to rising powers like China and India in order to share the international burden.

That’s something that's got China's web forums buzzing. Our researcher Emma Wang has been gauging reaction in the newsroom and we can cross to her now.