The problem is not with economies facing bubble bursts. Its the timing of this bubble burst. We recently have had the US economy tanking and slowly recovering, Europe is in a mess now. At this point of time, we dont need another major economy going bust! That was the point of above article.
The author drew comparisons to the timelines of collapses in Japan, US and Europe to that occurring now in China. By all indicators, the bubble is going to burst - which is NOT needed at this point.
Question is, if that happens, how would others fare? US economy is recovering, albeit slower than expected or needed. Europe is going bust and they need implementing immediate austerity measures - like yesterday! Indian economy is largely dependent on its domestic consumption and agriculture and services sector to a smaller extent - none of which are going to go down. Russia's is dependent on its energy exports - which wouldnt wane considering the oncoming winter. China's economy largely depends on exports.