Though my sources all expect a soft landing of the Chinese economy and a well-managed correction of the over-heated housing market in the tier 1 cities.
In fact, the strength of sterling has proved to be such a boon that the country has exported its over-heated housing market to certain parts of the continent.
Also, there is a reasonable argument that in the boom years, the economy was too dependent on consumer spending, which in turn was generated in part by an over-heated housing market.