It was nice discussing all this stuff with you, i hardly get to do that where I am. I did not know that Chinese are sitting on so much NPAs
Most welcome, always good to have a sensible exchange of ideas with points of disagreement. That's how we learn.
As for China's NPAs and bubble, just Google about real estate bubble for one example. Basically, you can show a lot of growth by constructing like crazy; however, when demand side is lacking, these become NPAs. Worse still, you have to keep pumping more and more not only to keep growing, but cover up the gap created by the investments that don't generate expected return. Ageing population due to the short sighted one child policy will cause its own problems.
Anyway, I am not saying any crash is eminent or that it can't be put off for a while, however, everyone has problems. When growth slows, the problems become much aggravated.