yes, the whole world may catch a cold.
Today, China stock markets has more than 1000 stocks slumped 10%, the highest daily drop margin. People are worried that the worsening subprime crisis may lead to a US economic recession. This would reduce global demand of Chinese products. Recently, thousands of export oriented factories went bankrupcies in Guangdong delta areas, laid off a great number of employees.
It is a butterfly effect!