China Slowdown - Worldwide Economic Problem? Or no big deal?

[J. Martin]

We all know China has been part of the grease that has turned the wheels for worldwide growth for the decades they've maintained double-digit or high-single-digit GDP growth. This is the first time I'm hearing about more faltering in the economy, insane RE maneuvering like Chinese developers guaranteeing prices for future, years, and all kinds of unsustainable borrowing and behavior that will have to come to roost at one point or another.

Right now, it seems like it's not treated as a big deal. Much like the first faltering of the economy and parts of the financial sector back in 2006, before anyone thought anything would come of it. Even in 2007, most thought it was isolated.

Are we being naïve to think a China slowdown won't potentially impact US growth, interest rates, and RE?

Does anyone think this will slow down Bay Area prices? More if people start deploying cash from China here more quickly..?