China's growth is highly dependent on external consumers. A recession in the US and/or the EU will cause their growth to slow.

India on the other hand is growing slower but a larger portion of that is internal growth (they have a larger middle class) so that would at first glance appear to be less at risk to a recession overseas. However that is not the case. India does have a growing middle class, but the vast majority of wealth that is pumping up that middle class is outsourcing from overseas. So depending on what sector of outsourcing they look after could either mean they get an increase of work (debt collection) or a decrease in work (customer service, as less customers = less service required, and the same applies to tech support).
Good observations. If we take a closer look at China's fundamentals then we will discover that a great deal of the raw hunger for raw materials stems from the need to produce with the recently Western outsourced heavy industries for the West. The USA is of course far more dependent on goods from China than Europe and vice versa. As you said a recession of the US market might will lead to slower groth. Actually if the recession is deep and long enough the skyrocketing stocks of China might get hit very badly. On can never tell when panic strikes. Personally I have seen far more attractive markets and stocks around the globe, and a good deal of investors might shift their assets out of China.

India seems to be right now the more secure harbor for an investors money.