The euro-zone debt crisis and fears of a U.S. recession have doomsayers unsurprisingly pricing in another global financial meltdown. More of a surprise is that they are taking no chances on China.

 

The world's second-biggest economy certainly has its problems. It is exposed to any global downturn. Accounting scandals at U.S.-listed Chinese firms have tainted investor perception and a mountain of local government debt has raised worries about the health of Chinese banks.