The problem with China, is that everything and the kitchen sink was factored into its story, thus created a massive bubble, bubbles don't take 12 months to recover they take years.
Over 20 banks have gone busto in the US they all had 'sound' fundamentals in 2006.
Some of these mid-tier, low end resource companies here in the AU will shut the gates on operations due to the commodity prices being in non commercial status.
