I returned from a two week business trip to China yesterday and boy, was I amazed. Guangzhou makes western metropolis' look outdated - huge buildings, 10 lanes highways, modern technology... You can get anything there, from nails to spaceships, one or one million pieces. Shenzhen was a small village 30 years ago, today it has 9 million people living and working it it.

Petrol is 70-80 cents a liter, they've got all the resources they need from Russia and Brazil and, steadily more so, from Africa. Their internal market is huge. Crisis in the west won't make them implode, it may just be a temporary speed bump.