alt Hacker NewsPeople kick around the idea of the "personal fat threshold". E.g. caucasians seem to be better at carrying fat than, say, Southeast Asians. White people seem to be able to better store fat without metabolic side effects; SEA seems to get T2D at a much lower bodyfat percentage.
Possibly maybe, but plenty of caucasian friends at my old bodyweight/fat percentage had/have horrible markers. I lean more towards the protective effect of exercise.