I only got into the Bitcoin scene in Oct '13 (Mining and Trading). While I understand that China "owns" most of the USA's economy, I'm not talking about the USA here; since this is more of a WORLD economics question. Why does China reign the most influential when it comes to the Bitcoin market?
The China Bubble fueled much of the move from ~$400 to ~$1200 late last year.
China still has influence today, but...
BTC is so low that all bad news will have much less effect.
Soon enough, the market will respond mostly to good news, from any country.