Plough, as a bit of an old Asia hand I can tell you I've seen...

Plough, as a bit of an old Asia hand I can tell you I've seen loads of cranes sitting on SE Asian cityscapes gathering rust for years on end while things are tough. No point finishing a skyscraper if it won't be used. Good money after bad, etcetera. I think the Chinese have learned that one already with ill-fated supermalls and so on over the last few years in places where the growth just wasn't there, even with the boom looking like it would go on forever.

If China can keep up 9%, we're all saved :) Hell, if growth/demand remained completely flat from what it's been we'd probably be all just fine if the market didn't panic. Too early to call though methinks. The real fallout may be 6 months or more away.