In short, MSG makes you fat.
It heightens sweet and sour tastes while diminishing bitter tastes. However, it also has other side effects such as forcing your body to produce more insulin.

http://www.thefitshack.com/2007/04/12/exactly-why-is-msg-so-bad-for-my-body/
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MSG is Monosodium glutamate. It is a salt, but not table salt. It makes food taste more savory. Some people are allergic to it.
Source(s):
http://en.wikipedia.org/wiki/Monosodium_glutamate - Base
http://en.wikipedia.org/wiki/Glutamic_acid_(flavor) - Flavoring

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MSG is not a natural compound but a man made chemical compound. It helps with the taste of the food, just like salt. It gives a sweet (not a sugar sweet, but an Asian sweet) flavor to the food. MSG is common not only in Chinese food but also Korea, some Japanese, and Vietnamies. It is said to damage your brain cells.
The reason you do not hear MSG talk in Italian food is because their flavors do not need MSG. As a rule of thumb, the closer to the natural flavor the less MSG has. It it tastes good but if you don't know what it is.. stop right there.
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MSG is a man-made flavoring compound. Besides the insulin effect, it's known to be addictive. It goes under many names:
, Glutamate Textured protein
Monosodium glutamate Hydrolyzed protein
Monopotassium glutamate (any protein that is hydrolyzed)
Glutamic acid Yeast extract
Calcium caseinate Yeast food
Sodium caseinate Autolyzed yeast
Gelatin Yeast nutrient
All of the above always contain MSG.

These very OFTEN contain MSG:
Malt extract Flavors(s) & Flavoring(s)
Malt flavoring Natural flavor(s) & flavoring(s)
Barley malt Natural pork flavoring
Bouillon Natural beef flavoring
Stock Natural chicken flavoring
Broth Seasonings (the word "seasonings")
Carrageenan Soy sauce
Maltodextrin Soy sauce extract
Whey protein Soy protein
Whey protein isolate Soy protein isolate
Whey protein concentrate Soy protein concentrate
Pectin anything Protein fortified
anything Enzyme modified

Take a look in your fridge and pantry. How many times do you see these on labels?

MSG is known to be addictive, acting like Valium on the neurotransmitters. See http://gslc.genetics.utah.edu/units/addiction/reward/pathways.cfm
Source(s):
http://www.msgtruth.org/addiction.htm

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