The question of how much debt China has is like Schrödinger’s cat—a thought experiment in quantum mechanics where a cat inside a sealed box is both alive and dead at the same time until the box is opened and the state is observed. Similarly, China’s true debt is both present and hidden at the same time, with different claims and estimates about its size, but the full extent remains unseen, just like the cat’s uncertain fate until it’s revealed. The Ministry of Finance says that the debt is “overall moderate and manageable,” while Chinese experts claim “what we see is just the tip of the iceberg.” International media, on the other hand, say “this could be the last straw that breaks the camel’s back.” But in reality, the true numbers are like Wi-Fi—present, but unseen. After all, in a society where even the nation’s leader, Xi Jinping, often “disappears,” debt data is understandably kept under wraps. If the lid were to be lifted, it would shock not just the Chinese people, but also the citizens of countries trading with China.
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