China’s gross debt-to-GDP exceeded that of
the United States for the first time at the end of last year.
According to the Bank for International Settlements, the debt-to-GDP ratio for China’s growing
debt pile was 254-point-eight percent, …topping the United States’ 250-point-six percent.
According to analysts, the uptrend of China’s debt is expected to continue, hindering the
nation’s economic growth in the near future. China’s ratio of household debt against its
GDP also jumped to 39-point-five percent, and its government debt-to-GDP ratio to 44-point-four
percent. South Korea’s household debt to GDP ratio
of 88-point-four percent is the largest among emerging economies.
And with the central bank’s recent cut of the key rate to a record low, its already-high
levels of debt are expected to grow further.