1,000,000,000,000 that's a trillion !, page-44

It's not about loving or hating China, or bashing China . China's not some footy team that you barrack for or against , similarly it's not about barracking for or denouncing the US.

It's about how their governments are managing their economies, debt based expansion eventually catches up on any economy no matter what the political system .

No many of these loans are not secured , the securitization system for lending is completely broken in China. Often debts are many times over their secured value, often loans use security that's used for many other loans. Often new loans are made to simply ensure they dint go into default. If you know the right bankers and pay them enough they will agree to lend you money no matter what the risk.