> China is really really broke, from central government, to local government, to enterprise, to individuals. from 11 trillion off the book debts for local gover

> China is really really broke, from central government, to local government, to enterprise, to individuals. from 11 trillion off the book debts for local governments, to record number of Chinese blacklisted for debt defaults. from 7 trillion lost in stock market value in 3 years, to close to 20 trillion wealth wiped out in real estate. Those all seem like things that would be really, really important to someone so immersed in the assumptions of the Western capitalist system that they've confused them for the laws of nature. But I'm not convinced they'd be so constraining for China.