The Corner

Economy & Business

Facing a Global Debt Crisis

From my most recent NRO article, on unsustainable post-2008 levels of debt: “In the eight years since just before the 2008 problems, debt in the world has grown by $57 trillion, raising the ratio of debt to GDP in the world by 17 percent, and the greatest national risk-taker has been China, whose debt has skyrocketed in that time from $7 trillion to $28 trillion. . . . The residual confidence in the ability of the world’s central bankers and treasury officials to be successful stewards of the whole, vast, interconnected world debt structure could be very suddenly and unanswerably challenged.

Whether you agree or disagree, your comments are, as always, most welcome.

 

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