The country may wince, but a stitch now saves its economy from ripping apart later. That is how speculators stabilize the world economy. This is also why the large swings you see in financial markets are a good sign. Unstable financial markets mean that capital is moving quickly out of bad areas. This protects wealth from being destroyed and gives stability to the economy.
Speculators also protect pensioners in the West from having their money stolen in the East.
If the investors who handle our pension money had not panicked, we would still be feeding the great Asian Ponzi scheme. Ponzi was an American con artist early this century whose company paid out high dividends with money from the sale of stocks. These dividends attracted investors whose purchase of stocks fuelled further dividends and raised the price of stocks further. Eventually the bubble burst leaving founders of the company rich with money they stole from later waves of investors. If investors in Asia had not pulled out when they did, the Ponzi-style theft would have continued.