US general government borrowing surged from 61 per cent of gross domestic product (GDP) at the end of 2007 to 127 per cent in the second quarter of last year, data from the Bank of International Settlement showed. Photo: Xinhua
US general government borrowing surged from 61 per cent of gross domestic product (GDP) at the end of 2007 to 127 per cent in the second quarter of last year, data from the Bank of International Settlement showed. Photo: Xinhua

Is US coronavirus spending and ballooning debt at risk of stoking global asset bubbles?

  • Washington’s massive spending on coronavirus relief is adding to its huge debt levels and priming asset bubbles, analysts say
  • Despite concerns, the US dollar-based global financial system makes it hard for countries like China to reduce their exposure

Topic |   Coronavirus pandemic
US general government borrowing surged from 61 per cent of gross domestic product (GDP) at the end of 2007 to 127 per cent in the second quarter of last year, data from the Bank of International Settlement showed. Photo: Xinhua
US general government borrowing surged from 61 per cent of gross domestic product (GDP) at the end of 2007 to 127 per cent in the second quarter of last year, data from the Bank of International Settlement showed. Photo: Xinhua
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