Who loaned the Chinese firms the money? If it’s the chinese banks, then I wouldn’t worry much. China can print money and wipe out the debt. China might have to sell their stocks at less than they paid for them. That would be okay with me too.
China has been preparing for this for some time.. They have been accumulating actual Gold to protect as much of their own currency as possible to pacify their pumped up values.. Germany has been doing the same..
We haven’t anything to secure our own paper, our Gold is only paper promises with nothing to back it up, so hold on to your ass.. ugh!