Chinese Economy and Debt

This was an interesting read, but I have the following questions if someone could help:

1. The article says that the Chinese govt. opened credit taps early in 2016 to reduce the odds of a sharp economic slowdown. What are these 'credit taps?'

2. It also says that to cope up with the debt, China will have to deleverage, which will in turn create demand and slow down the GDP growth in China. 

I do not understand how these three are related. 

3. Since China is a large economy, do you think deleverage there will effect global prices and interest rate?

Here is the article link: http://www.economist.com/blogs/freeexchange/2016/02/red-ink-china