RE:The Repercussions
The VAST majority of the "market" is the EU & U.S., and there have been calls for a hard landing in China for at least 4 years, so I would be very surprised if there is ANY effect on U.S. markets from a significant China meltdown. The big firms have enough experience with the volatility of the H.K. market to be able to quantify the mainland reaction. The biggest potential problem for the U.S. is that China's problems might reduce domestic inflation numbers. The Chinese stock market is the "wild, wild west", and I would suggest that the only people who care are the Chinese speculators. It's a non-issue.