I already forecast this problem on March 6th in my China post and again on April 2nd. when I responded to you asking this very same question.
Ya gotta read the answers and quit asking the same questions.
Things are however changing a bit, mostly IMHO, because tutes are in a panic mode to get out of leveraged positions to avoid taking a bath. Tute painc is in the air and as Rham once said never let a good crisis go to waste. Private investors by-and-large have NO impact the market.
So ..... what to do? With regard to SCCO, I'll hold my current positions and look to put some cash to work on dips at or below $30. Additionally, if I wanted to buy some more insurance (and I do) I'd look to physical silver coinage (from APMEX) on further dips and put it away for a rainy day. With regard to other investments its a bit tougher. Ask yourself the question do you want to try to "catch a falling knife" at the bottom or wait buy on an upswing? In this case the upswing may be the better answer. It's not to late to do your homework regarding things you may want to invest in.
In closing, China's GDP is whatever China wants it to be regardless of the FACTS. Europe is DEEP STUFF and will have to address their problems (sooner rather than later) as will the U.S.. The U.S. is IMO the best house in a bad neighborhood unless you want to take chances on second or third world countries (which at this time I don't).
Good luck, this could be the start of "no guts no glory time" for those who can afford it.