China a strong buffer

The US subprime problem will not be catastrophic because central banks andmonetary policy have become more sophisticated and anticipatory. Sources of USeconomic growth have also broadened due to the change in forces shaping the globaleconomic structure. One of the most important forces is the rise of China 

CHINA is now the world's fourth largest economy and is projected to overtake Germany as the third largest soon. China contributed 17% to the world’s gross domestic product (GDP) growth in the last five years as opposed to 16% from the US. The emergence of China has a significant impact on the world economy.