I agree that there is reason for concern.

My own country, the United States, sold its own people down the river in 1913 by setting up the Federal Reserve, not to mention the IRS, both of which are unconstitutional, and neither of which has the best interests of We the People even on their radar.

They exist to profit at our expense.

The Federal Reserve prints our money, at interest, manipulates our economy, usually poorly, and always does so self-servingly. They make their 1% on every dollar printed regardless of what happens to the rest of us. Schmucks.

Since president Nixon took the US dollar off the gold standard, in 1971, wages are no longer tied to corporate profits, real wages have lagged far behind real inflation, and each successive administration prints more and more money - backed by nothing but thin air - making an economic crash likely, and even inevitable.

The only real question is when it will happen, how big it will be, and whether - which is likely - we will take the rest of the world's economies down with us.

The problem with China is many-fold. The problem, from a Western perspective, is that Western rules don't apply in China.

In Western business, rules are meant to be adhered to, promises are meant to be honored, and guarantees mean precisely that - they are guaranteed.

In China, if you can profit from screwing someone over in business, that is simply good business, and there are few or no consequences. Rules be damned.

My mom ran into that many times, as a realtor in the L.A. area, when Chinese investors would walk out of a deal at the last minute, and leave her holding the bag. Not cool.

The worst case scenario I foresee, which unfortunately I wouldn't doubt, is that China does what it is supposed to for a period of time, and then floods the market with the currencies in question, crashing their markets, and allowing them to swoop in and snatch up properties from desperate sellers for a fraction of their worth.

Look at their history. They have done this consistently without having to print money in the past.

Your concerns are very real.

I've mentioned before that, as a teen, I wrote a report in school on why our real concern in the U.S. was not (then) the U.S.S.R., but China. Seems I was pretty prescient as a kid.