China has
serious problems of their own. And when they crash we're all in trouble.
True, China does have problems, however you can't compare the housing bubble in the US that popped in 2008, with the housing bubble in China where the rules are different. Heck even in Canada, the housing bubble popped here at the same time the one in the US did. How many Canadian banks failed because of it, zero, because there are strict rules under which all banks operate on the lending of mortgages. I would think the system in China is closer to the system in Canada, then the system in the US, but when the government owns the banks that's lending the mortgage, as China does, they have a lot more options, then Canada or the US.