Why would the fact that China is basically controlling mining do anything to Bitcoin?
The whole concept of bitcoin was based around decentralization.
If China controlls a large % of the hash power then it would only take the collaboration of a few to hit the dreaded 51% control point
This statement suggests that the Chinese are more corrupt that other nationalities. I don't believe that they are. Would you have made that statement if a large % of hash power was controlled by Americans?