China and its exchange traded funds (ETFs) have been getting a lot of attention as it has grown over the last few years. But now, with the summer Olympics looming large, the country could be the subject of even more scrutiny.

Growth in the country is undeniable. Last year, the gross domestic product increased 11%, reports Andrew Leckey for the Chicago Tribune. The streets are clogged with late-model cars and the noise of construction is inescapable.

But aside from booming growth, China has another, less positive, reputation: it’s known as one of the world’s worst polluters, it has a poor human rights record and freedom of speech isn’t a right enjoyed by many.

As China tries to make changes to its economy, many there fear that they’re going to get dragged down the with United States. The iShares FTSE/Xinhua China 25 (FXI) is down 19.8% this year, compared to being up 53.3% last year. The Golden Dragon USX China (PGJ) is down 25.8% year-to-date; last year, it ended up 62.8%.

Many believe a turnaround is inevitable, though. One portfolio manager expects growth of 10% in 2008. China is also sinking money into improving its infrastructure, including some facilities that are environmental-related, under its five-year plan, currently in its third year.

Tags: Asia, China, Emerging Markets, FXI, Infrastructure, PGJ