If everyone talking about the bubble means it will happen soon. may be in 2011?
If you insist, China is also facing challenges faced by all. As far as to say what it is, I had some similar vague idea in 2000. In 2003(estimate), Sun Microsystems then chief scientist Bill Joy wrote an article published in nature(Does My memory still serve me well?), it's controversial in United States. But you can find some clues in there.