Oh, there is another thing I forgot to mention - the Three Gorges Dam is very, very far from where China needs the energy. The electricity produced will have to be transported great distances.
Another problem that I didn't point out above - a lot of China's best farmland will be flooded. That's good for the United States and other food producing nations, though. China will need a LOT of food to feed that huge and growing population! But, will they be able to pay for it?
And, as a matter of intellectual honesty, I really ought to point out the positive effect of the dam - it is not ALL bad.
The Yellow River has historically flooded over and over, costing thousands of lives. The Three Gorges Dam, if successful, will end that for a time.
I think the 30's term was "liebenschraum"