{"id":47242,"date":"2019-07-15T18:01:23","date_gmt":"2019-07-15T23:01:23","guid":{"rendered":"https:\/\/olduvai.ca\/?p=47242"},"modified":"2019-07-15T18:03:05","modified_gmt":"2019-07-15T23:03:05","slug":"global-debt-hits-246-trillion-320-of-gdp-as-developing-debt-hits-all-time-high","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=47242","title":{"rendered":"Global Debt Hits $246 Trillion, 320% Of GDP, As Developing Debt Hits All Time High"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><a href=\"https:\/\/www.zerohedge.com\/news\/2019-07-15\/global-debt-hits-246-trillion-320-gdp-developing-debt-hit-all-time-high\">Global Debt Hits $246 Trillion, 320% Of GDP, As Developing Debt Hits All Time High<\/a><\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">According to the latest IIF Global Debt Monitor released today, debt around the globe hit $246 trillion in Q1 2019, rising by $3 trillion in the quarter, and outpacing the rate of growth of the global economy as total debt\/GDP rose to 320%<\/p>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/twitter.com\/IIF\/status\/1150801618964746243\"><img decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/ext_tw_video_thumb\/1150801169448673280\/pu\/img\/qtPQsofNZQRqqRE4?format=jpg&amp;name=small\" alt=\"Embedded video\"\/><\/a><\/figure>\n\n\n\n<figure class=\"wp-block-image\"><a href=\"https:\/\/twitter.com\/IIF\"><img decoding=\"async\" src=\"https:\/\/pbs.twimg.com\/profile_images\/662748426430513152\/N0E_-9uj_normal.png\" alt=\"\"\/><\/a><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/twitter.com\/IIF\"><strong><\/strong><strong>\u2714<\/strong><\/a><a href=\"https:\/\/twitter.com\/IIF\/status\/1150801618964746243\"><\/a><\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/abs.twimg.com\/emoji\/v2\/72x72\/1f539.png\" alt=\"\ud83d\udd39\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">NEW Global Debt Monitor: Global debt hit $246T in Q1 2019, nearly 320% of GDP. <br><br>Debt by sector, Q1 2019 (as % of GDP): <br>Households: 59.8% <br>Gov&#8217;t: 87.2% <br>Financial corporates: 80.8%<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This was the second-highest dollar number on record after the first three months of 2018, though debt was higher in 2016 and 2017 as a share of world GDP. Total debt was broken down as follows:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Households: 60% of GDP<\/li><li>Non-financial corporates: 91% of GDP<\/li><li>Government 87% of GDP<\/li><li>Financial Corporations: 81% of GDP<\/li><\/ul>\n\n\n\n<p class=\"wp-block-paragraph\">And while the developed world has some more to go before regaining the prior all time leverage high, with borrowing led by the U.S. federal government and by global non-financial business, total debt in emerging markets hit a new all time high, thanks almost entirely to China&#8230;&nbsp;<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/non%20fin%20corporate%20debt.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">&#8230; which has been on such a debt issuance rampage, it would make even Uncle Sam blush, as Chinese corporations owed\u00a0<strong>the equivalent of more than 155% of GDP in March, or nearly $21 trillion, up from about 100% of GDP, or $5 trillion, two decades ago.<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">And here is a startling fact: according to Fundamental Intelligence, a bond market consultancy,&nbsp;<strong>Chinese firms accounted for 42% of all corporate bonds issued in EMs this year,&nbsp;<\/strong>which it warned raised the risk of defaults next year and in 2021.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">As a result of China&#8217;s ravenous debt appetite, emerging economies had the highest-ever level of debt (both corporate and household) at the end of Q1, both in dollar terms and as a share of their gross domestic product,&nbsp;<a href=\"https:\/\/www.ft.com\/content\/f3d171b6-a6e9-11e9-984c-fac8325aaa04\">according to the FT&#8217;s report&nbsp;&nbsp;<\/a>on the latest IIF data.<\/p>\n\n\n\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/zh-prod-1cc738ca-7d3b-4a72-b792-20bd8d8fa069.storage.googleapis.com\/s3fs-public\/inline-images\/IIF%20debt%20emerging%20markets.jpg\" alt=\"\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\">\u00a0\u2026click on the above link to read the rest of the article\u2026<a href=\"https:\/\/www.zerohedge.com\/s3\/files\/inline-images\/IIF%20debt%20emerging%20markets.jpg?itok=g0_SSXXV\"><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Debt Hits $246 Trillion, 320% Of GDP, As Developing Debt Hits All Time High According to the latest IIF Global Debt Monitor released today, debt around the globe hit $246 trillion in Q1 2019, rising by $3 trillion in the quarter, and outpacing the rate of growth of the global economy as total debt\/GDP [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[195,353,364,26274],"class_list":["post-47242","post","type-post","status-publish","format-standard","hentry","category-economics","tag-debt","tag-gdp","tag-global-debt","tag-iff-global-debt-monitor"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47242","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=47242"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47242\/revisions"}],"predecessor-version":[{"id":47243,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/47242\/revisions\/47243"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=47242"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=47242"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=47242"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}