I don't believe it is possible. I've considered alternate ways of leveraging this. Right now the Australian dollar is supposedly propped up high by selling commodities to China: http://www.ibtimes.com/articles/128654/20110330/australian-d... That seems one way for a non-Chinese investor to put chips on that number.
But most of China's raw materials importing is driven by their huge expert market, how would a collapse of domestic spending affect that? Isn't it everyone else that's buying Chinese goods that's driving the demand for resources?
China already has a large and fast-growing domestic market.
Insofar as they want to build apartment blocks and manufacture cars for Chinese consumers, the Chinese need steel. For that they need iron ore, and for iron ore Australia and Brazil are the main sources.
Geez investing is so cynical. :/