Domino or dynamo?

China has become the most important country in the world economy because most of the big countries have big losses as result of the global credit crisis. But the economy of China doesn't grow as much as in the past. The main reason is the sinking prices on the housing market. But China banks can handle this because they don't give big mortgages like in America, buyers of a house in China have to invest 30 or 40% of their one.
Chinese banks can also handle the credit crisis better than the Western banks because the total loans that they give to people is just 65% of their total deposit and that's lower compairing to Western banks.
The people of China haven't as much debts as the Western people so they can handle the sinking prices wich the Western people can't do
These are the mains reasons why China isn't a victim of the global credit crisis and with the help of the government and the national bank, the Chinese economy will do it good in the future

I think that all the Western banks and governments can follow China's example because their economy is good despite the global credit crisis.
Also the Westren can better follow China's example. We found it normal that we go to the bank when we needed money and ask for a loan, even if it's for a small amount of money, or a mortgage but we don't think what would happen if the economy is going down or if the prices would go up. But the banks are also guilty because they give us that loan or mortgage.
So I think that Western people, banks and government have to take over a little bit more of the Chinese system.

source:http://www.economist.com/finance/displaystory.cfm?story_id=12381871