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World's Biggest Debtor Countries by the end of 2009.
Many national economies have looked to their government and foreign lenders for financial support, which translates to increased spending, borrowing and in most cases, growing national debt.
Deficit spending, government debt and private sector borrowing are the norm in most western countries, but due in part to the global financial crisis, some nations and economies are in considerably worse debt positions than others.
External debt is a measure of a nation's foreign liabilities, capital plus interest that a country must eventually pay. This number not only includes government debt, but also debt owed by the private sector and individuals.
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we're getting back on the gold standard for sure. the euro is worse off than the dollar, screw fiat money backed by nothing
Enemyatthegates1 2 years ago
@ameetcoeur yes, you are right, Although beijing is not famous for economy, but Beijing has the most number of rich man in china , neither hong kong nor shanghai. And every place has poor people, e.g. i m living in france now, I had thought most frenchmen live in beautiful big house. But after I came here, I couldnt believe that so so many french young men and some old men are living without salon, kitchen room and the rent is still so high.
choejann 2 years ago
I agree that Hong Kong is not a country and China is there with its money. My point was more my disbelieve that Hong Kong has a significant external debt.
Anyway, a lot of their citizens live in chicken cage, so I guess the wealth of that city is not really meaningful.
ameetcoeur 2 years ago
@ameetcoeur hong kong is not a country... and hong kong needn't to be worried, mainland China puts lots of money to keep hong kong's good economic performance each year.
choejann 2 years ago
Hard to believe for certains rich countries like germany, hong kong, etc.
Ireland is number one, probably on life support and will bring down the rest of us, our countries down wilth them.
My genuine opinion is that so many countries have so many debt that they'll happy default on their debt together, then start anew, without any real consequence from creditor nations. It's not like if only one country defaulted.
ameetcoeur 2 years ago
This must be morgage debt included. Norway has 0,- foreign debt/ national debt and has not had one in a very long time
breimosi 2 years ago