Wow, this is surprising. I am actually working at China Medical University in Shenyang right now. I think my response was too enthusiatic but maybe it will be somewhat helpful.
This American joint program is new to me but CMU's foreign program is not; there are a number of foreign students who come here to train, mostly Indian and a few Russian. What I've heard from the foreign students is that it is not a bad program and apparently is not terribly demanding for the first two years. I'm pretty sure classes are entirely in English, and most of the students don't speak excellent Mandarin. And if the new program is aimed at getting the MD it might be better than just going to another Chinese university for med school and then trying to work your way into the US system.
This hospital is very much unlike anything I have seen in the US: 2800 beds, chaotic and cursory means of seeing patients, smoking and spitting all around the hospital, a mix of richer urban city dwellers and poor rural folk with bizarre afflictions. I'm not sure if it would be beneficial but you would definitely get a look at a completely different healthcare system in a nation with national health insurance but without established preventive care, and as part of a system that selects medical students not necessarily based on empathy or altruism so much as test scores and connections. But as a large regional hospital CMU certainly has its share of competent doctors. (See
http://www.cmu.edu.cn/eng/index.htm . Unfortunately the English is pretty poor on this site.)
There are few foreigners around this area in general, especially Westerners, and I have to agree with the above posts that Shenyang is filthy, not very exciting, and freezing cold in the winter (summers can also be uncomfortable). It's also not exactly close to anywhere interesting. And unless you want to pay to circumvent the Great Firewall you can say goodbye to Youtube, Blogspot, Facebook, Myspace, and any number of media/image-related sites. But the people are interesting and there are things to keep you entertained, plus in my experience the Chinese here will return foreigners' friendliness. If you are used to living in China Shenyang isn't such a bad place to be.
Also, not to put down TCM but the doctors at CMU are of course trained in Western medicine and side with it. I've seen some interesting studies on TCM that have come out of CMU. Unfortunately TCM is not standardized; beyond the fact that it is somewhat popular with the older population here I can't really see it ever gaining popularity in a physician's arsenal as a supplemental treatment.