Some people think that China is on the road to hell

China May ‘Crash’ in Next 9 to 12 Months, Faber Says (Update3) - Bloomberg.com: "China is “on a treadmill to hell” because it’s hooked on property development for driving growth, Chanos said in an interview last month. As much as 60 percent of the country’s gross domestic product relies on construction, he said. Rogoff said in February a debt-fueled bubble in China may trigger a regional recession within a decade."

Until now, Asia was a bright spot on the gloomy economic picture. If China goes to recession, we will see the deepening of the crisis, likely to be more severe than in 2008-2009