[Unlike during the SARS outbreak in 2003, the Chinese financial system is now overburdened with historically huge amounts of debt - a large chunk of which will never be repaid. ]
They’ll extend and pretend like the Japanese did for decades. It’ll probably work a little better for the Chinese, because the Japanese had ripped off everything they could rip off by the time of Japan’s economic doldrums. Whereas the Chinese still have a bunch of catching up to do. But that mid-single digit growth rate will probably go to the low single digits or even zero for a decade or more, as China works through the bad loans.