First off, I agree that the key chains are pretty heinous but let's be fair with the arguments here. Sure, the Chinese have a really bad rep with animals but I think a lot of that stems from their history and culture. Due to their long tradition of eating whatever's available because of their poverty, to them animals are not "pets" - they are food or "toys" at best. I don't think it's fair to just razz the Chinese for this when one could just as easily point fingers at the French for foie gras.
It's sad to say, but I think at the end of the day it's about the monetary value people place on the animals. Farmers raise their animals for the slaughterhouse and nobody bats an eyelid. Sure, the conditions are better (mostly) but it's only because the cow will only fetch a good return if it's healthy - the end result is still death for the animal.
In the case of the Chinese key chains, the goldfish there probably cost them about 2c each because they are mass-bred, thus when the value of the animal drops, the level of care/ concern drops as well - you don't see them putting baby arowanas inside the key chains!
Like I've said, I don't condone what the Chinese are doing, I think it's disgusting, but I think it's just a small part of the human condition in which profit overrules basic animal rights. Don't mourn the fish, mourn the death of human empathy.
...on the plus-side, the goldfish aren't doomed to suffer like Paris Hilton's chihuahuas! &c:ry