An ex-Fitch Ratings analyst, Charlene Chu, is sounding the alarms on China as debt risks are increasing as the nation’s growth deteriorates, according to an article on Bloomberg on Monday.

“We’ve got the biggest debt bubble that the world has ever seen and credit is continuing to grow twice as fast” as the economy, Charlene Chu, a partner of Autonomous Research – the former Fitch analyst – said during in an interview on Bloomberg’s Hong Kong today with Angie Lau. “We’ve got deflation looming on the horizon.”

China’s debt is equivalent to 251% of gross domestic product (GDP), according to a June estimate from Standard Chartered, Bloomberg reported

Chu told Bloomberg that investors with upbeat views on China “believe that the country can grow its way out of the problem, but mathematically that’s impossible when something is twice as big as something else and growing twice as fast.”

According to Bloomberg, China’s economic growth may slow to 7.0% in 2015, which is down from an estimated 7.4% in 2014.

Chu, responding to a question from Bloomberg on the possibility of financial bail-outs in China, said that the government has the capacity and the willingness to provide such support, however “the issue really comes down to how messy it gets.”

Watch the full interview here via Bloomberg