China has excess capacity and falling demand cause by the expectation they can maintain production and global trade. Most of China's debt is held by Chinese owned companies consequentially if China losses a significant proportion of world trade many of those companies will need a bail out or fail.
About 90% of Australian real estate is overvalued by 40 to 60% with home vale increase of up to 300% in since 2008.
World debt to GDP is getting worst. Japan 234% China 300% USA 104% the highest since the great depression in 1942.
