What is the record high of global debt _ Why is the debt record high?
At present, global debt has accounted for 3 18% of global GDP. What is even more worrying is that this is the first time that the ratio of global debt to GDP has increased since 438+06 in the third quarter of 2065.
Based on this trend, Huan Tran, managing director of IIF, warned that although the debt amount is still controlled through extension and refinancing as long as there is no serious economic slowdown, the global economic growth is losing momentum and the recovery will end. What is even more worrying is that with the acceleration of the Fed's interest rate hike, the borrowing cost will increase, or it will lead to a surge in debt default. Sonja Gibbs, senior director of IIF, said that due to the increase in debt and financing costs, the risk of sovereign debt crisis in a few developed economies has increased, highlighting the worsening global debt threat.
IIF also expressed concern about emerging market debt. In the first quarter, emerging market debt increased by $2.5 trillion, setting a new record of $58.5 trillion. Among them, the government debt of Brazil, Saudi Arabia, Nigeria and Argentina increased the most, and the risk of dollar refinancing in Argentina and Nigeria was higher.
Non-financial enterprises have the largest total liabilities.
According to the tracking data released by IIF, in the first quarter of 20 18, the total debt of households, governments and non-financial institutions soared to 186 trillion dollars, of which the total debt of households was 47 trillion dollars, the total debt of non-financial institutions was 74 trillion dollars, and the total debt of government departments was 67 trillion dollars. Financial sector debt rose to $665,438+0 trillion, a record high. As can be seen from the above data, the total liabilities of non-financial enterprises have surpassed those of financial enterprises and become the department with the largest total liabilities.
Geographically, the debt of non-financial enterprises in Canada, France and Switzerland reached record highs, and the proportion of US government debt to GDP rose to 10 1%.
Too much debt holding can easily lead to credit risk.
For the general reader, the debt holdings of hundreds of trillions are just a string of numbers, and there is no profound concept. If we narrow the scope a little and regard the global economy as an enterprise, then the increase in debt holdings can be regarded as the expansion of corporate debt.
This example is easy for readers to understand. The expansion of corporate lending has undoubtedly increased the burden and business risks of enterprises. Once the market fluctuates and the capital flow breaks, it will lead to financial crisis, and in severe cases, enterprises may face production suspension and bankruptcy.
However, the global economy is more complicated than an enterprise. The increase in global debt holdings means that more and more individuals, enterprises and governments have been borrowing. In other words, there is a problem with paying debts.
Although in the case of stable economic development, the debt problem can be solved through extension and refinancing. However, once the economic growth slows down, the credit risks faced by various economies will increase. In the United States, for example, interest rates and credit have risen simultaneously, so has the cost of borrowing, and it may face a higher number of defaults in the future.
According to IIF data, the total debt of emerging economies increased to $58.5 trillion in the first quarter. As the interest rate index rises, floating bondholders in most emerging economies will face greater risks. Mature economies are more dependent on floating rate notes, so the increase in global debt holdings has to attract the attention of all countries.
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What is the record high of global debt _ Why is the debt record high?
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2018/7/139:12: 48 Source: Original author of this site: a strong mouth makes a strong king popular: 46
First one? 2? Paging the most indebted countries in the world
The most indebted country in the world
According to foreign media statistics, if the government debts of all countries in the world are added together, the total amount has reached 63 trillion US dollars. Moreover, this scale is still rising.
Today, let's look at the debt scale of countries around the world. First, let's look at the distribution of global debt scale:
The United States and Japan together account for half of the total global debt.
According to statistics, the total debt of the United States has reached 20 trillion US dollars, accounting for 3 1. % of the total global debt. Japan followed closely, accounting for 18.8% of the total global debt, of which debt accounted for 239.3% of Japan's GDP. The United States and Japan together bear nearly half of the world's debt.
Other countries include China (7.9%), Italy (3.9%), France (3.8%), Britain (3.7%), Germany (3.8%), Canada (2.3%), India (2.5%) and Brazil (2.2%).
Proportion of countries in global debt
The five most indebted countries in the world
The top five countries have accumulated debts of $465,438 +0.6 trillion, accounting for 66% of the world. There is no doubt that the United States and Japan are in the top two. Among them, American debt accounts for 107. 1% of GDP, and Japan accounts for 239.3%. China ranks third, with a total amount of 4.97 trillion US dollars. Italy and France ranked fourth and fifth respectively.