I know polling in countries like China is diffficult, but what polling is done reflects the opposite of your friends. Most Chinese citizens are happy with their lives compared to 10 years ago, and most think the next 10 years will also be good. The disparity between outlook by China citizens and USA citizens is very large. China positive, Americans not so much.
US rating are hiking when the Feb starts to taper. It could cause hot money flow out of emerging market back to US in a massive scale. people in china are afraid the real estate bubble is going to burst because of this.
But I don't take it in that way though. the power of china government is much greater than those western government. it can apply strict control over the flow of hot money.