I believe we should always be interested and relatively concerned when such a possible epidemic presents itself. We should follow what is happening and we should study such things because we all share the planet, and what affects one side of the planet can affect the other side, and more quickly than most might realize.
Thousands of people travel to and from China everyday, making China's bird flu have the possibility of becoming the next epidemic. People should be concerned about this. This is why scientists in the United States have begun to work on a vaccine. It is obvious that people are concerned. It is in the best interests of everyone to be concerned so that may be prepared for the worst case scenario.
We should always be concerned about any serious flu that has the potential of traveling to our country. That is not to say that we should go crazy, and start walking around with masks on before the flu even gets this far, but we should make preparations ahead of time so that we have doctors who are trained and vaccines at the ready.
China's bird flu should be recognized as a possible threat, but should not be a main concern for us right now. Doing anything that would cause people to freak out would just make more problems than be helpful. If the country started acting paranoid because of a flu elsewhere it can cause chaos.