(grin) One doesn't have to be big in order to cause trouble. Ever try to drive with a bee in the car, or sleep with a mosquito in the room?
But seriously, I've always been sorta puzzled about this hand-wringing over China. Why, b/c China has a lot of people? Well, so does India. B/c China is big country? Well, so is India. B/c of China's stated rapid economic growth? A growth triumphed by China itself, based on MYOB numbers which the Chicom will not permit any outsiders (international, or non-cadre Chinese)to look at.
I'm not saying we shouldn't keep our powder dry, but let's not get too Henny-Penny ("...the sky is falling...the sky is falling...") about this.
China has made VAST improvements and they are becoming increasingly more sophisticated. More than anything you have to realize where the average joe came from... and that they came from a messed up craphole.
Now in a short period of time, they are in large part acting more like they have manners and didn't just roll in from the farm. That part I like although admittedly it was kind of fun being treated like a movie star when I was in China long ago.
That being said, the crowd I refer to is big and getting bigger. Shanghai and Beijing both are so different now than 10 years ago.
None the less your average joe that goes to China mistakes what they see on the surface for what really is China.
The underlying core of China is still there... it is just wearing a new face for now.
All in all though, a lot of stuff said about China is sheer propaganda. Much of it is said by westerners with only a partial view of what is going on.
The ignorant who "KNOW" they are right are the ones saying a lot of this stuff.
Also if you only look at things from one perspective and one angle then your view is not going to be correct.
A lot of these mutual fund companies or whoever sum up what they believe with a line chart (however many would be embarrased to show their own actual charts)....
If you look sheerly at economics you miss out on so much more stuff. You have economists who say 'the economy does this---hence china is that'...kind of like the tail wagging the dog.
To me their reasoning displays their ignorance. Once you determine what China is, THEN you can determine what its economy will do, or how it will react to this or that.
If just about anyone starts off talking about China with a number or a statistic... then run the other direction. Problem is, too many of those people are in position to cause problems themselves.
China is still a deeply authoritarian country with a fragile political system.
Me, I have a unique perspective. I look at China from various angles. Definitely on the business side I see a lot. I have also looked extensively into the social side of things, cultural side of things, historical side of things, and political side of things.
Just try to take one of those and your view is distorted. You may be somewhat right in your own little context, but in the big picture you are far far off from reality.
Who precisely is being Henny-Penny?
With remarks like that...it looks to me like your "powder" is already all-wet.