The China comment may be naive, but it could be taken two ways.
1. Of course China is relavant to the current economic problems. The huge growth there in a country with 25% of the worls's population has put so much pressure on the world's resources. The pressure on Oil, Steel, Coal etc - even items such as rubber is incredible and these commodities have seen huge increases in price over the last 3 - 5 years.
Remember $10 a barrel?
2. IT isn't relevant. CHina has gorn as it was the natural factory of the world - if it hadn't have been - somewhere else would have been - such as Africa etc.
In fact China will soon start to lose as it is becoming difficult to source from in som instances.