Large seas of debt made sense when they were somewhat more underdeveloped, and every additional unit of debt could be used for 'easy' value creation. As it curr

Large seas of debt made sense when they were somewhat more underdeveloped, and every additional unit of debt could be used for 'easy' value creation. As it currently stands, I don't see their rate of value creation servicing their debt. Similar dynamics, albeit to a lesser extent, are in play in India and other countries in South East Asia.