so was in 2007 and that didnt stop china from keep growing 

China's GDP growth rate in 2007 was 14%, it's now down to 7%. Potentially lower this year. How much of that 7% was reliant on construction and financial markets, I don't know, but both of those are going WAY down this year.

1. Nobody knows the full extent yet. But shaken confidence in the PBoC, also means shaken confidence in the RMB and Chinese debt. Those things have severe impacts on the "real economy" (as, btw, does financial activity - insurance, pensions, and savings, are tied up in the financial markets in just about every country in the world).

2. Yeah, will be institutional money, both foreign and domestic. However, 20 million "novice investment" accounts were opened up by Chinese residents in the past year.

like everywhere else including UK

O....kay? I agree the UK is a ticking time-bomb, but

a) This thread is discussing what's happening in China, today.
b) I'm suspicious as to why you picked the UK, considering just about all of Europe is going down in smoke at some point in the future.

your profile says youre from UK so i chose this to make you aware

Well, I live in China.

Correction, let's hope they start and end with North Korea.

Wait, why Korea? XD

ah okay :P