"Equity markets don't pose the greatest economic risk. Debt...

"Equity markets don't pose the greatest economic risk. Debt markets do. "


https://www.bloomberg.com/news/articles/2020-02-27/china-makes-bad-loans-disappear-as-virus-pummels-banking-system

"Some of the measures, which include rolling over loans to companies at risk of missing payment deadlines and relaxing guidelines on how to categorize overdue debt, have the explicit approval of regulators in Beijing. Some lenders are also refraining from reporting delinquencies to the country’s centralized credit-scoring system and allowing borrowers to skip interest payments for as long as six months, according to people familiar with the matter, who asked not to be named discussing internal decisions."



so we may never know how bad the debt problem is in China

and that's REALLY bad

there's nothing more the markets hate than not knowing the depth of a problem