I'd say the main reasons to be worried are: - notoriously murky economic figures from the government - explosive growth of credit and especially shadow bankin

I'd say the main reasons to be worried are: - notoriously murky economic figures from the government - explosive growth of credit and especially shadow banking Oversimplified, imagine borrowing money for 6% p.a. and investing all of it into some mutual fund that the last 10 years yielded 7% p.a. If the fund's returns drop to 5% that's still a pretty good return, but doesn't make you any less f'd. So, given that people can't really trust any official statistic from China, and remembering very loose to non-existent shadow banking control, people are nervous. And I'd say, it's best to be nervous and earn less, than euphoric and lose everything like during subprime.