To add more fuel to the fire in China there is a possibility of a real estate bust in China that could potentially affect China severely in both economic and political parameters.  The author of the opinion piece linked below seems to opine that this development could shake Chinese society to its core.  Should her projection of potential doom play out then, of course, it would affect all aspects of the Chinese economy to include the photonics industry in China and even Super Photonics in Xiamen.

OK, that is quite a jump in an assumption and anyone can pull a "Doomsday" scenario out of their hat or some body orifice if you allow them to speculate on the reading of the bones or tea leaves long enough, especially if they have had one or more psychoactive substances ingested to help modify their "vision" along the way.

The "Vision" of Diane Francis, linked below, may be nothing but hot air and smoke, but then again there may be at least some germ of truth in the debt situation she describes, whether or not her prognostication of doom has any merit or not.  If the real estate debt situation in China is half as bad as she alleges then certainly the Xi regime has a significant problem to deal with and that problem may tie its hands in regards to limiting its options in other areas of Chinese economic, political, social and military life.  

I file Diane Francis's opinions as just something to keep an eye on as events play out in the future in China.  Time will tell as to whether she is just anothe crack pot or whether she is clairvoyant.  Most likely she is somewhere in between those two extremes. 

If you haven't seen her opinion piece already then take a gander at this link:

"China’s dim prospects turn disastrous"

https://www.msn.com/en-us/news/politics/china-s-dim-prospects-turn-disastrous/ar-AA11eEwk?ocid=mailsignout&pc=U591&cvid=3abfdb1338484fab912b773855485c73