The difference between debts and environmental disasters is that debts can always be canceled or watered down. Indeed China's MO is usually to do that indirect

The difference between debts and environmental disasters is that debts can always be canceled or watered down. Indeed China's MO is usually to do that indirectly every time, which is why articles like this have popped up like clockwork for the last decade in spite of China not facing a recession in that time. Counter cyclical fiscal stimulus always headed it off.