Frankly, I simply don't blame the Chinese for not honouring those derivatives. I just don't blame them. Who in the hell wants it? In the end, I don't blame them in theory either. BUT...when I think that they were fully prepared to benefit from the investments (regardless of who else might get burned) then I have to say that I have no sympathy.    They knew how the game is played. They just didn't like the outcome so they gathered their chips and left the table.