There is no question that already is some social unrest in China am I am sure you are going to see more going forward because these are peril times economically around the world.
Any part of the chinese economy that deals with the west, specially retail, knows that something is wrong right now. Some parts of the chinese economy and some parts of the indian economy are going to do extremely well going forward. But for the most part you are going to have problems.
China has huge reserves, they are the largest creditor nation in the world right now. Will that prevent problems? Off course not. They are going to have problems too.
But think about where the money is. The largest creditor nations in the world are China, Japan, Korea, Taiwan, Hong Kong, Singapore. The money is in Asia now.
And through out history the center of things has moved to where the money is. It is pretty simple stuff. This is not ideological, this is the way history has always worked.