China, which has lent nearly $1 trillion to some 150 developing countries, has been reluctant to cancel large debts owed by countries struggling to make ends meet. That is at least in part because China is facing a debt bomb at home: trillions of dollars owed by local governments, their mostly off-the-books financial affiliates, and real estate developers.One of the main issues for Treasury Secretary Janet L. Yellen during her visit to Beijing this week is whether she can persuade China to cooperate more to address an evolving debt crisis facing lower-income countries. But China’s state-controlled banking system is wary of accepting losses on foreign loans when it faces far greater losses on loans within China.How much debt does China have?It’s hard to know exactly because official data is scant. Researchers at JPMorgan Chase calculated last month that overall debt within China — including households, comp …
