Which countries have the most debt?
Government debt represents the outstanding financial liabilities of a country, made up of different categories such as loans and debt securities.
The IIF’s Global Debt Monitor covers 21 mature market economies including the eurozone as well as 30 emerging market countries.
The United States has the world’s highest national debt with $30.1 trillion owed to creditors as of the first quarter of 2023. Washington’s debt now stands at $31.4 trillion, raising further concerns about US government spending and borrowing costs.
To put that in context, the US owes as much money as the next four countries with the highest debt including China ($14 trillion), Japan ($10.2 trillion), France ($3.1 trillion) and Italy ($2.9 trillion).
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How much are China in debt?
As of 2020, China's total government debt stands at approximately¥ RMB 146 trillion (US$ 47.0 trillion), equivalent to about 45% of GDP. Standard & Poor's Global Ratings has stated Chinese local governments may have an additional ¥ RMB 40 trillion ($5.8 trillion) in off-balance sheet debt.
The real numbers are not known to anybody as Totalitarian regime functions by lower government entities mis represent to the higher entities to surviveIs China in a debt crisis?
A major lender abroad,China is facing a debt bomb at home: trillions of dollars owed by local governments, their financial affiliates, and real estate developers.8 July 2023
