Absolutely. We want them to continue shipping us goods, but it is critically important that they reduce their own consumption, not increase it... bicycles are ok if absolutely necessary, why can't they just walk? Think of the health benefits.
I think the problem comes from insufficient censorship. Why is china allowing pictures of the west, everybody riding cars etc, to be shown in china? Simply leads to unhealthy desires that we all know can never be met.

Certainly, some see a huge expansion in the number of Chinese automobile owners in the next few years:

According to Chinese policy researcher Zheng Xinli, by 2020 China could well topple the United States as the world’s biggest auto market with annual output of 15 million units. By then, experts predict, China’s total car ownership could even begin to exceed that of the U.S.

...General Motors is pouring in $3 billion over three years to expand capacity, on the calculation that some 74 million Chinese families can now afford to buy cars.

I can't help but wonder if this isn't just another huge miscalculation on GM's part.

A large part of the rise in Chinese liquid fuel consumption is 22 million of these things:-

They are advertised here

New Scientist had a story about them in May 2005. They are single cylinder diesel agricultural vehicles. There are as many of them as all China's trucks and cars. Because they are so dirty and inefficient, they use a quarter of China's diesel and produce half of the polution from vehicles. They weren't noticed because they were classified as agricultural machinery rather than vehicles. Back in 2002 they were producing 3 of these things for every car.