Yes. Especially true for countries or cities reliant on Chinese money. One of which is South Korea with most of it's trade coming from China. An economic crash in China will have a big impact there. Also, we should see housing prices in west coast fall when the Chinese money exits quicker than it came. Vancouver in particular is kept afloat with Chinese money, that's going to turn out to be a bitter lesson,
I just checked and it seems 26% of South Korea's export (and 16% of import) is to/from China. That is pretty big, but not terribly bigger than many other countries. (For comparison, 8% of US's export and 20% of its import is to/from China.)
It's not just direct stuff and financials, there is a huge knock-on effect with suppliers to other suppliers. (Just about every consumer good from cars to phones to computers has bits and pieces in it sourced from China if they aren't made there whole).
