China has been relatively flat on the weekly chart for the past 2-3 years after its initial pullback from its push out of the 2009 recession. It is my belief that China is back. Long term price consolidation in this relatively tight narrow band and the recent sell-off all point to low risk entry. Fears of recession or crisis in China are all fluff: China's government allows for swift top-down approach and also has a lot to learn from crisis in the west. most importantly, China is not overvalued, or , in my opinion even fairly valued by any traditional measure, so even if a crisis comes to china, downside would probably not be as crazy as it was in the west when markets were near all time highs.
Conclusion: China is offering a long term low risk entry point for years to come. I don't think this is a short term trade by any means, although one could use this information to prsumambly find stocks to take advantage