Mubarak is the Egyptian equivalent of the Kings of Saudi Arab, Jordan and UAE. They ensure the insterest of the west (US) and in return they get support from US to keep their absolute power. A monarchy or semi-republic in the mid-east is to the best interest of the west.
Chinese leaders craved and has gained the same treatment from the west. Only those fools who are perpetually deceived by the communists believe that their leaders are 'firm' against the west and best safeguard the interests of the Chinese people.
There is another kind of fools who believe that China would collapse because China is not free. They are ignorant enough to forget the fact of who is really behind the Chinese leaders.
A Chinese monarch or its equivalent is to the best interests of the west (US).