I also think it is ironic that you chose as an example an infrastructure project not built as the result of capitalism.
Growth can probably be too fast - China has some problems in this regard, infrastructure, basic services, environmental concerns, the political system etc. can't quite keep up with the reasonable demands of a rapidly growing new middle class.
The growth rates attainable for the US and Europe, however, are unlikely to be dangerous.
"The results show that foremost among the causes of growth in U.S., German and Japanese manufacturing value added is electric power consumption."[1] Now I wouldn't pay too much attention to the word "causes" in there, but...
Define your terms too precisely and there would be nothing to think about.
[1]"Engineering and Economic Growth" http://www.sciencedirect.com/science/article/pii/S0954349X04...