China's High Debt Levels Could Be a Reason for the Government's Precautions

High debt levels in China may be one reason that the government is being very, very cautious about adding robust stimulus. The economy we know has been struggling, and I was talking earlier about the fact that we have the currency weakening to a level that we haven't seen right now. So this is kind of an effort at a reckoning. However, whether it actually gets made public or not, we just don't know, that's not clear.