Yes china has emerged and it also has a very cyclical economy....

Yes china has emerged and it also has a very cyclical economy. Just listen to the very pro china bulls jim rogers and marc faber. They always say that china will have its volatility.
China did not decouple that myth was smashed some time ago so it is just another piece of the jig saw in the world economy.. not some mythical beast that does not respond to normal economic rules.

True in 03 china was smaller than now, but the point I made which you chose to ignore is that supply adjusted accordingly. The amount of supply has risen up to meet the mythical beast that is the china led commodity bull market and so now that the bubble has been pricked that excess supply is competing for the falling demand.

No one knows at this point where commodity prices will finish. If you make assumptions as an investor that the prices will not fall back to 03 levels eg like nickel then you are being hopeful rather than realistic.

The financial crisis has a long way to play out and the ones who think it will be like another asian crisis are sorely mistaken