China isn't dependent on external creditors. Greece would be a better comparison. If one wishes to participate in global trade then unfortunately there isn't m

China isn't dependent on external creditors. Greece would be a better comparison. If one wishes to participate in global trade then unfortunately there isn't much a country can do once it has borrowed money in a foreign currency. Germany just finished paying off debt dating back to World War I reparations last year. Greece, Argentina may have a hundred years to go before they are back to "normal." China is more in a situation where they have let things get far out of balance. It is hard to sympathize. Irreversible environmental destruction on a massive scale has occurred across the world trying to rush the delivery of raw material so that China could construct infrastructure rapidly. Much of this may not have even been built in a quality that will last for a long time. Fast growth always creates imbalances -- whether you are a country or a private company. China now has to decide how they will re-balance. For now they are making the decisions for themselves, however as a participant in global trade the actions of many other countries will provide constraints.