Taps Coogan – January 28th, 2021
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The following chart, from Statista, show the surging levels of corporate debt in major economies across the world.
While the US is rapidly climbing the ranks of countries with the highest government debt levels, corporate debt levels relative to GDP remain lower than other notable economies, including: France, China, Japan, and South Korea.
Officially speaking, France’s sclerotic corporate sector leads the world for corporate debt with a staggering 167% corporate debt-to-GDP ratio, surging by 17% of GDP between mid 2019 and mid 2020.
China’s corporate sector officially claims to have 162.5% of GDP, slightly less than France and twice the level of the US. Of course, China manipulates its corporate debt figures as well as GDP, so it’s fair to say it deserves the top spot.
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