China defaults hit record in 2018, and the 2019 pace is triple that
So I'm doing an MBA right now.  Yeah, I know, I know.  Anyway, it's a world-ranked program, located in Hong Kong.  I will say that I actually have learned a lot, if that makes the below easier to believe.<p>One of my classmates is a senior finance manager or something for a Chinese real estate company.  Just finished a macro economics class where the professor identified various issues and risks around the world and particularly identified corporate debt and real estate prices (among other things) as being a really big risk in China.  He also happens to get invited to advise the top of the top levels of the Chinese government on their economic planning, so he very much has a horse in this race.<p>So my real estate finance manager classmate objected to real estate prices being a risk.  She told the professor in front of the class that if things ever get bad, the Chinese government will step in and take care of everyone.  This prof advises the government about their economic risks and she's telling him there's no risk.<p>I have no idea what to think anymore.  The world is crazy.