A new report by the International Institute of Finance (IIF) shows the world’s debt climbed by $7.5 trillion in the first six months of 2019 to a record high of over $250 trillion. It was driven by borrowings in the US and China.
The IIF said that “China and the US accounted for over 60 percent of the increase. Similarly, EM [Emerging Market] debt also hit a new record of $71.4 trillion (220 percent of GDP).”
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