China local government debt is huge I think about 2 to 3...

China local government debt is huge I think about 2 to 3 trillions US $. They borrow from big bank to fund these local infrastructure project and building. Who is buying these apartments is anyone guess. If the local governments can pay their debt because of falling economy then the Chinese and the world with Australia in particular will be in some troubles. The only thing that may save them is their huge currency reserve. The Chinese are very good at saving their hard earn cash which maybe a saviour. My opinion only.