meanwhile...chances of chinese credit crunch?

This last week the financial papers have been most concerned with this question, rather than with the Ukraine. China reluctantly bailed out several entities in the last two weeks, and it now emerges that there are several more Trusts in the shadow banking system that need immediate assistance. If they decide to make an example of one of these and allow them to fail, it could be, dare I say it, the tip of the ice berg, and there is the possibility of a credit crunch in the months down the track....look beyond china's borders, and what would the effect of this be on Australian property mkt (currently being bouyed by chinese investment money), commodity prices in general (surely we would see tanking of base metals, iron ore, coal at the very least), and collapsing of some deals in Australia being funded by chinese debt (think SDL in its current seeking of partners in west africa). The decline in the iron ore price is already being put down to this unfolding event.