Chinese growth: What could possibly go wrong?

In our scenario 'Likonomics Revisited' we forecast that GDP growth in China will remain solid (7.0 to 7.5%) in the next two years. Business insolvencies will increase by 5% annually. The inittial policy stance (no stimulus, rapid deleveraging and structural reforms) will be nuanced to maintain social coehsion. Accomodative policies will be accelerated to support the economy's remodeling.