Global debt hit a new high of $312 trillion in the first half of 2024, fueled by government borrowing in America and China.
Despite this massive buildup, governments in advanced and emerging economies are showing little initiative to address their escalating debt levels. Concerningly, global government borrowing is projected to rise from $92 trillion today to $440 trillion in 2050.
- G7 nations face some of the worst debt condition.
- The U.S. and UK at the bottom because of ageing Populations and weaker real GDP growth.
- China is sliding sharply because of the slowdown in it's property market.
- Saudi Arabia ranks at the top.
- India's debt score is pretty good so far for it's showing growth in manufacturing and service sector very rapidly.
