The man who cracked the nut that was Enron, hedge fund manager Jim Chanos, continues in his assertion than China remains a speeding car racing for the cliff. He does state some very compelling statistics in this video, asserting that for all the exports we speak about - the GDP of China (whatever the true GDP is) is only 5% exports. Instead it is essentially one big construction company with 60% of the economy 'building stuff'.... and a lot of that stuff is completely unaffordable to the Chinese citizen. An always fascinating subject as the world of the tier 1 vs tier 2 vs tier 3 cities are quite different.
One area I differ from him is that any dramatic slowdown in China would affect the U.S. in only small proportion. While perhaps true in an economic sense, in a market sense almost all bull markets derive from China - our multinationals are generating huge demand and profits from China, almost every commodity on earth is moving based on how much China buys, and frankly China has a sphere of influence on the entire Asian region so if China slows it won't just be China it affects but hordes of 'emerging market' countries in the region who are now dependent on the country to export into.
Anyhow for now, just get your Yokou Dance on and we'll worry about it some other day.
11 minute video