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To be honest the U.S. has hade it's fair share of crisis, and China's bubbles are yet to burst. The Chinese economy is so finely balanced, even a small shift can completely put it off balance. The economy could completely overheat, there could be either massive deflation or inflation. Just look at the warning signs in Brazil and Turkey this year with currency's almost collapsing, and Turkey's massive rise in government debt. If that happenned in China you are talking global crisis.

In fact there are still so many unknown factors, nobody knows how big the Chinese economy really is. As people above have stated, there are massive gorvernment projects to keep production on par, especially in real estate.