When will it pop?
This is a similar problem China is facing at present. They have breathed in as much debt as they can, but popular thought is that they can continue breathing in as much debt as they like to keep the economy ticking along at high single digit rates, albeit with a soft slowdown to 7.5% this year.
Whilst they may be able to stimulate in the short term, it would likely cause greater imbalances over the medium to longer term as the majority of any stimulus would continue to be channeled to inefficient government directed fixed asset investment.
There is a great article here from Zarathustra about the loan issues China faces over the next few years…