According to the International Monetary Fund, the debt of governments, households and non-financial corporations added up to $226 trillion in 2020 and $27 Trillion in 2019. The world’s advanced economies, including China, have contributed more than 90% to the accumulation of worldwide debt in 2020. The remaining emerging economies and low-income developing countries contributed only around 7%. This frightening figure needs to be understood properly.
To understand this properly, one should un…
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