.China's political/economic structure (Socialism with Chinese Characteristics code for a mix ofState Capitalism & Private Enterprise) is already geared for any collapse in the Private Enterprise
sector of its economy. Unlike the USA during the US initiated GFC, China wont throw a Trillion
at private enterprise to bail it out; instead it will simply nationalise the assets, lets the private
creditors go jump and fold in the assets into one of China's SOEs.
Iceland did a form of this during the GFC by burning the credits and Iceland is now
better positioned economically than other European countries that did not.
And besides China holds over $3 Trillion of fires mostly in USD & almost
$2 Trillion in US Treasuries (Sovereign Bonds) + a mountain of Gold so for it a lazy $trillion is neither here
or there, IMO
""China Forex Reserves Rise SlightlyForeign exchange reserves inched up toUSD 3.236 trillion inJuly of 2021 from USD 3.214 trillion in June, slightly higher than forecasts of USD 3.217 trillion" (source Wikipedia 2021)
https://tradingeconomics.com/china/gold-reserves
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