$69 Trillion of World Debt in One Infographic

The U.S. is also the world’s largest economy in nominal terms, putting the debt to GDP ratio at 104.3%. Other stand outs from the list above include Japan, which has the highest debt to GDP ratio (237.1%), and China , which has increased government debt by almost $2 trillion in just the last two years. Meanwhile, the European economies of Italy and Belgium check the box as other large debtors with ratios topping 100% debt to GDP.

Perils of the New Keynesians

To the extent that government can stimulate growth, it’s through structural reforms that improve the investment climate: Cut red tape. Reduce workplace regulation. Fast-track tax cuts. Fix the state-based payroll taxes and stamp duties on property that stifle labour mobility. Make the 30 per cent company tax rate more internationally competitive. Break the construction union’s monopoly power. Restore monetary policy to its appropriate role of maintaining price stability.

Close Menu
×
×

Basket