Jim Chanos and Mark Faber have been making high profile observations about a potential implosion in China due to excess credit and overbuilding ("Dubai, 1000 times worse"). The inference from the Chanos interview is that he is looking to short raw materials companies that have been riding the China infrastructure boom, as well as companies listed in Hong Kong.
FXI is already down a bit since November. Near term, the Baltic Dry Index has started to dip, possibly a seasonal effect, but potentially a signal the decline has begun. .
