Since the beginning of this year, countries around the worldTotal liabilitiesIt has already exceeded 2100 trillionRMB, an increase of 70 trillion from last yearRMB。The pandemic has had a global impactEconomycaused a huge shock, in order to copeEconomydilemma, countries have to increaseDebt, especially the United States and Japan. AlthoughDebtAble to stimulateEconomydevelopment, but hugelyDebtalso make countriesEconomyBecome vulnerable. This article will start withChina and the United StatesDay threeEconomyThe liabilities of the individuals to start, their liabilities and their pairsEconomyThe impact of development.
1. Japan's huge debt
Japan is the third largest in the worldEconomyIts liabilities have reached 84 trillion yuanRMB。This data is quite staggering, and if you convert it to a GDP ratio, Japan'sDebt240% of GDP. That is, it took more than two years to do it allEconomyincome to repay allDebt。This is an unbearable pressure for any country.
Be that as it may, the JapaneseEconomyIt is still leading the world, and the domestic wage level is relatively high. But high-valuedDebtTo JapanEconomyStable andInternationalCredibility poses a huge challenge.
2. The United States has huge debts
As the world's largestEconomybody, AmericanDebtThe issue is of great concern. According to statistics, the debt of the United States has exceeded 230 trillion yuanRMB。It is expected that in the next 10 years, the United StatesFiscal deficitsIt will exceed 21 trillion yuanRMB, which will give the United StatesInternationalCredibility and the status of the dollar have a significant impact.
However, the United States as a developedEconomybody, itsEconomyThe strength and the level of people's income are relatively high. DebtThe sheer size of the United States did not workEconomyThere is a clear threat, but this situation requires continued attention.
3. China's stable and controllable debt
China's debt situation is relatively stable, at presentTotal liabilitiesfor $8 trillion. Compared to the other twoEconomyChina's debt is small and has been tightly controlledDebtproportions. We mainly borrow for infrastructure construction and projects that benefit the people, and we strictly control the process of treasury bond financingDebtScale and useDebtRevenue.
The latest data shows that China's debt ratio is within a controllable range, and from the perspective of long-term and stability, China'sEconomyWell developed. Despite the impact of the pandemic,EconomyWe have not fully recovered, but our debt ratio remains within a manageable range, sending a positive signal.
1. Debt issuance and economic development
Treasury bond issuance is one of the common fiscal instruments used by countries to obtain funds through borrowing to facilitate itEconomyDevelopment, maintenanceFinanceStabilize and guarantee social welfare. DebtFinancing became a stimulus for countries after the pandemic endedEconomyOne of the important means of growth.
However, reasonable controlDebtScale and useDebtIncome is just as important. High percentageDebtSize may causeEconomyFragile, bringing huge financial pressure and risks to the country.
2. Degree of economic dependence and debt ratio
A country's debt ratio also reflects itEconomyDegree of dependence on the outside. InForeign exchange reservesIn this regard, China has always had great guarantees. Although it started late, ChinaEconomyIt has made great achievements in the development of the past few decades, becoming the second largest in the worldEconomyBody.
Although the epidemic to ChinaEconomyBrings challenges, but oursEconomyIt is steadily recovering and developing. China's relatively stable debt ratio is further evidenceEconomyof sustainability and potential for endogenous growth.
EconomyIndebtedness is what countries are trying to sustain in the face of challengesEconomyOne of the means taken by growth. However, how to reasonably controlDebtScale and useDebtincome to ensureEconomyStable andSustainabilityIt is a problem that every country needs to think about and solve.
ForChina and the United StatesDay threeEconomyIndividually, their liabilities** reflect their respective liabilitiesEconomyThe current situation and challenges of development. Japan's high debt ratio has potential risks for the U.S. to be hugeDebtRightInternationalStatus poses a threat, while China's steady controllability demonstratesEconomyresilience and development potential.
As an individual, I think a country is sustainingEconomyGrowth should be reasonably controlled at the same timeDebtScale, ensureEconomyofSustainability。** Structural reforms need to be actively promoted to increase productivity and innovation capacity to alleviate the impact onDebtdependence. At the same time, the state should strengthen financial management and risk prevention to ensure:DebtTransparency and compliance with use.
Only by achieving reasonable controlDebtScale, steady progressEconomyStructural adjustment can be realizedEconomyofSustainabilityto create long-term prosperity and well-being for the country and its people.