the chinese debt bubble is starting to look like the us debt bubble. an "issue" that will only ever be ignored, with nothing ever coming of it
a debt bubble can be safely ignored if economic growth renders it irrelevant, which is what happened to the Chinese debt in the ‘90s! but this doesn’t work if growth has already stalled, if things continue then eventually there will be no private economy left and opening and reform will be completely unwound.
US debt can’t grow indefinitely either, but the forces driving it are a little different