The Russia's advantage
Initially written in the comment at this my comment since October 30th, 2017
The United Nations of Debt
If you add up all the money that national governments have borrowed, it tallies to a hefty $63 trillion.
In an ideal situation, governments are just borrowing this money to cover short-term budget deficits or to finance mission critical projects. However, around the globe, countries have taken to the idea of running constant deficits as the normal course of business, and too much accumulation of debt is not healthy for countries or the global economy as a whole.
The U.S. is a prime example of “debt creep” – the country hasn’t posted an annual budget surplus since 2001, when the federal debt was only $6.9 trillion (54% of GDP). Fast forward to today, and the debt has ballooned to roughly $20 trillion (107% of GDP), which is equal to 31.8% of the world’s sovereign debt nominally.
Top Ten Economies in the World
The economy of the United States is the largest in the world. At $18 trillion, it represents a quarter share of the global economy (24.3%), according to the latest World Bank figures.
China follows, with $11 trillion, or 14.8% of the world economy. Japan is in third place with an economy of $4.4 trillion, which represents almost 6% of the world economy.
The economy of the United States is larger than the combined economies of numbers three to 10 on the list.
A Quick Outlook
The U.S.A. has 24% (quite near 2/4) of world's GDP but 32% (quite near 1/3) of global debt while China has 15% (less than 1/6) of global GDP but only 8% (1/12) of the global debt. In proportion bigger is better, so far
- China GDP/DBT = 1/3:1/6 = 2
- U.S.A. GDP/DBT = 1/4:1/3 = 3/4
Did China win the competition. Probably yes, as widely accepted when this KPIs and their ratio are kept in consideration. After all, for example
- Russia GDP/DBT = 1.8%:0.3% = 6
- EU28+UK GDP/DBT = 24%:27% =