A bank employee counts out 100-yuan notes in Shanghai. China and the US pushed global debt to a record US$251 trillion in the first half of 2019. Photo: AFP
Opinion
Opinion
Macroscope
2020 may be the year when the ‘largest, broadest and fastest’ wave of debt crashes over the global economy. You have been warned
- The World Bank has provided a chilling analysis of the latest tidal wave of borrowing, which had reached US$55 trillion by 2018. Even though interest rates are low now, they provide no sure-fire protection against debt crises
A bank employee counts out 100-yuan notes in Shanghai. China and the US pushed global debt to a record US$251 trillion in the first half of 2019. Photo: AFP