>>60687457 (OP)debt bubble in china popping in a way that spirals out of control (as in not the slow deflation we've had for 3 years now)
Rest of SEA is not insulated enough, it will be bad for Japan and the ball will roll from there
Global banks will have huge counterparty risk, liquidity dries up, demand destruction not seen in 90 years, politicians trying to fight the problem in stupid ways making it worse, trade and capital barriers, fractured system, supply chains toast