Depends what you mean by "collapse". Large part of China's economy looks as rickety as their rice krispie housing blocks. Otoh they are now the world's Numbah Wan manufacturer by a ridiculous margin and all those factories and skills and accumulated knowledge and distribution chains aren't going to disappear just because investors lose fucktons of Yuan in real estate scams.
Chinks have lots of savings under the mattress and are used to hardships, so on average they're maybe a little better positioned to handle Moneygeddon than the rest of us.