Yes, that was very scary.
However, they did also say that it would be a brave economist that would bet on China not being able to handle its economy given its history over the last 35 years.
Some may remember that there was a 4 corners report on the imminent global financial crisis prior to 2008 - would have been very handy info for a lot of people at the time. I don't know if the same researchers/reporters are involved in this report.