Global debt has reached a record high, and three countries account for more than half of it, according to a new International Monetary Fund report released Wednesday.
The IMF’s fiscal monitor said total debt reached $164 trillion in 2016, or 225% of global gross domestic product. That includes the debt of governments, households and companies.
Compared with the previous peak in 2009, the world is now 12% of GDP deeper in debt, the IMF said.
Just three countries — China, Japan and the U.S. — account for more than half of global debt, and China alone accounts for almost three-quarters of the increase in private debt since the financial crisis.
You can read the rest @
https://www.marketwatch.com/story/global-debt-has-reached-a-record-high-imf-says-and-three-countries-are-to-blame-2018-04-18
At least China is building something - the New Silk Road.
What are the US and Japan doing? Nothing of importance. Our debt represents a lifestyle we have not earned.
No comments:
Post a Comment