Should investors be brave and buy China? There are certain sectors that are likely to weather the continuing economic storm better than others - and these are the stocks to pick up now. In this environment there are few places to hide. Protection can be found in businesses that attain huge bargaining power, such as telecommunications, with only three players - China Mobile, China Telecom and China Unicom - each with differentiated client profiles," said Pau Morilla-Giner of wealth managers London & Capital. Another sector to pay attention to is consumer-oriented firms with subdued valuation levels and hefty dividend cushions. He said these firms should profit from any rebound in consumer confidence, which may be triggered by the more active economic policy adopted by the central government. He added that "consumer staples" are, however, the safest option, "although textile retailers with sound balance sheets and significant cash flow generation are set to benefit most from a turnaround in the macroeconomic environment." Fen Sung, fund manager of Premier China Enterprise, said that industrial automation was still increasing, so companies that made consumer staples, such as toilet roll producer Vinda, looked a good bet. I also like Chinese investment banks as there is a real push to stop the Chinese investing in property and get them into equities instead. Citic Securities is an example. I don't have any exposure to Chinese banks, shipping or airlines, though," he said. Lee Robertson of wealth managers Investment Quorum likes investment funds that have exposure to companies which demonstrate defensive qualities, have visible earnings growth and a proven management. He tipped Aberdeen Global Chinese Equity and Invesco Perpetual Hong Kong & China. Chelsea Financial Services also tips the Aberdeen fund, and the soft-closed First State Greater China, which can be accessed through platforms and added to if you already own it. That's not to say investors should expect the bad news from China to cease. Michael Derks, chief strategist at FxPro, said China's financial demise is set to become a dominant theme in global asset markets. It is abundantly clear that the pace of growth in China slowed much more rapidly than expected in the first half of this year. Demand in some key sectors such as coal, steel and shipbuilding has collapsed. If the economy really was growing at 10pc through 2010-11, then the underlying pace of growth may already be nearer 6pc. Mr McDermott said that investors taking the plunge should brace themselves for a bumpy ride. China is, and will remain for some time, a higher-risk investment for long-term savers. The growing middle class and resulting consumer demand is not something that will just go away, but perhaps a more moderate pace of progress, and therefore less global reliance on one country's progress, is actually a good thing. Mr Lowcock said that although China provides potential for growth over the next decade, in the short term it could be susceptible to problems in the eurozone. He recommends nervous investors try a broader approach. The MSCI China index has lagged the wider MSCI Emerging Markets index over three years, returning 10.75pc versus 40.12pc. We think this figure highlights that while individual countries may perform well, wider exposure is a better long-term strategy. We prefer a broader approach via funds such as First State Global Emerging Markets. Who loses from China's hard landing? While investors in Chinese equities should be buying now to take advantage of rock-bottom prices, there are plenty of losers from a Chinese hard landing. Experts have expressed concerns about the commodities sector, as China is responsible for consuming a large proportion of the world's natural resources output. Ben Gutteridge of Brewin Dolphin said: "A decade of weak European growth would not be too far from market expectations; a Chinese hard landing, we suspect, would be met with a much graver reaction. The most obvious candidates for a derating would be the commodity and resources sector, so dominant in the FTSE 100. Mr Robertson said: "With the Chinese economy slowing, base metal prices have already suffered, with some nasty falls recorded in the last four months - tin, aluminium and copper leading the way." By extension, countries that rely heavily on exports of commodities are in trouble, too. A sizeable chunk of Australian exports are made up of minerals such as copper and iron ore - going directly to China. The nation is so dependent on this trade that analysts say should Chinese demand for these commodities ease, the entire nation's economy would be in danger of collapse. Similarly, there would be serious implications for Brazil. Forty per cent of the Brazilian stock market is made up of just two companies - Petrobras, the energy company, and Vale, which is the second-biggest mining company in the world. Brazil's Latin American cousin, Argentina, would fare better, however. Its export of soya beans would remain mostly unaffected as food consumption is expected to remain stable.