This guy's opinion matters. IIRC Rogers was the brain trust of Soros who betted against the UK pound making a fortune.
http://www.reuters.com/video/2013/11/07/reuters-tv-central-banks-are-making-a-terrible-mist?videoId=274443989&videoChannel=118110 (http://www.reuters.com/video/2013/11/07/reuters-tv-central-banks-are-making-a-terrible-mist?videoId=274443989&videoChannel=118110)
Yup. This is a mess.
heh, he says "I don't have any worries about China."