Yes their external debt is about 10% of Australia's debt -- figure that
Regardless of who owns it, from Australia's point of view is that the internal infrastructure of China is in bad debt and the Government cannot bail it all out.
Therefor if Chinese people who are heavily invested in Australia cannot pay their debts in China they will depart Aus quickly.
Likewise the purchasers on our minerals etc, same story
This is why IMHO China is far more dangerous to us than the US
