If you're counting out China, it's possible you're making a terrible mistake.
For months chatter on the Street had everything to do with China and whether the world's second largest economy could underpin global growth.
Lately Wall Street had become skeptical, especially after a high profile report suggested China's rapid expansion had generated the largest housing bubble in history.
Considering the housing bubble in the US was responsible in part for the worst downturn since the Great Depression, a bigger one in China seemed disastrous. Wall Street's concern seemed warranted.
As a result, sectors of the stock market tethered to China had lagged the broader market.