The Chinese national debt to its GDP ratio is only 44%. According to http://www.usdebtclock.org/ , the US national debt to GDP ratio is close to 110%. If talking about private debt, the US still trumps over the Chinese by over 100%. I think the debt issue is a bigger problem for US than China. Private debt is not important as important as national debt. It was very fucking stupid for Bernanke to convert private debt to national in the past years.