Does China have debt?

Yes, China has significant debt, with its total non-financial debt exceeding 300% of its GDP, a level comparable to or higher than many developed nations, primarily driven by corporate and local government borrowing for infrastructure, despite relatively lower central government debt. This has created challenges, particularly with local government finances and "shadow banking," though Beijing's control over the financial system allows it to manage risks, according to sources like the Federal Reserve Bank of Dallas, Carnegie Endowment, and the IMF https://www.dallasfed.org/research/economics/2025/1223, https://www.carnegieendowment.org/posts/2025/08/using-china%E2s-central-government-balance-sheet-to-%E2clean-up%E2-local-government-debt-is-a-bad-idea?lang=en,.

How much is China in debt?

China's debt is substantial, with its national debt around $16-19 trillion (2024/2025), but this understates the full picture, as general government debt (including local governments) reaches over 120% of GDP, and total non-financial debt exceeds 300% of GDP, largely due to massive infrastructure financing via Local Government Financing Vehicles (LGFVs) and state-owned enterprises. This massive debt load, including significant off-balance sheet borrowing, poses ongoing economic challenges. 

Who owns over 70% of the U.S. debt?

Who owns the most U.S. debt? Around 70-80 percent of U.S. debt is held by domestic financial actors and institutions in the United States. U.S. Treasuries represent a convenient, liquid, low-risk store of value.

What countries have the most debt?

Countries with the most debt vary by metric, but the United States, China, and Japan lead in total government debt in USD, while Japan, Sudan, and Singapore have the highest debt relative to their economic output (GDP), and the US also has the largest external debt overall. Advanced economies like the US, China, Japan, UK, and France hold the largest shares of global government debt, but countries like Sudan face severe debt-to-GDP ratios due to instability. 

Is China struggling financially?

Yes, China is facing significant financial and economic challenges, primarily a deep real estate crisis, high local government debt, slowing growth, weak consumer demand, and trade friction, leading to concerns about long-term stability, though its economy isn't collapsing and is trying to pivot towards high-tech manufacturing. The property sector's downturn has continued for years, impacting developers and household wealth, while rising government deficits and corporate debt remain key worries, despite some resilient areas like manufacturing investment. 

China’s Debt Problem Is 300% Bigger Than America’s

Who has more debt, China or the USA?

The United States has significantly more national debt in absolute dollar terms, while China's debt-to-GDP ratio has been rising and sometimes surpasses the U.S. when considering total debt (government, household, corporate), though the U.S. generally has a higher public debt-to-GDP ratio, making the comparison complex, with both countries having major debt burdens. The U.S. leads in government debt (e.g., ~$38 trillion vs. China's ~$18 trillion in 2025 estimates), but China's overall debt (corporate/household included) is immense, with some sources suggesting higher total debt relative to its economic size. 

Which country is no 1 in economy?

The United States leads the world GDP ranking with a GDP of $30.50 trillion (IMF WEO Apr 2026). India is the 4th largest economy in the world in 2026, slightly ahead of Japan in nominal GDP.

Which country has zero debt?

As the world's biggest gambling hub, Macao SAR has zero debt, bolstered by billions in gaming revenue and healthy financial reserves. Liechtenstein ranks in second, with virtually no debt and the only country in Europe ranking in the top 10.

Can the USA get out of debt?

There are a number of methods to reduce the U.S. national debt that go beyond raising taxes and cutting discretionary spending. One of the most controversial is to open the nation's borders to more immigration, kick-starting entrepreneurship and consumption.

Who owns the 36 trillion debt?

Who Owns All that Debt? On October 21, 2025, the nation's gross debt eclipsed $38 trillion. Of that amount, approximately 80 percent, was debt held by the public — representing cash borrowed from domestic and foreign investors.

How many Americans are 100% debt free?

Around 23% of Americans are debt free, according to the most recent data available from the Federal Reserve.

Who was the last president to balance the US budget?

The last president to oversee a balanced federal budget was Bill Clinton, whose administration achieved budget surpluses for four consecutive years, from fiscal years 1998 to 2001, marking the first sustained period of budget balance in decades. This rare feat was due to a combination of economic growth, spending cuts, and tax increases, and it ended with the start of the new millennium, after which deficits returned. 

What would happen if the US paid off all its debt?

If the U.S. paid off all its debt, it would trigger an economic crisis by eliminating safe investment options (Treasury bonds), causing a massive cash glut, crashing interest rates, disrupting monetary policy (Federal Reserve operations), forcing cuts in government services/spending, and potentially leading to a depression as the economy would lose its primary safe asset, disrupting the entire global financial system that relies on U.S. debt. The process itself, whether through extreme taxes or printing money, would likely cause hyperinflation or deep recession, while the end result removes a critical benchmark for the global economy.
 

What would happen if China sold U.S. debt?

Since the U.S. dollar has a variable exchange rate, however, any sale by any nation holding huge U.S. debt or dollar reserves will trigger the adjustment of the trade balance at the international level. The offloaded U.S. reserves by China will either end up with another nation or will return to the U.S.

Is China a rich or poor country?

China is a major global economic power (second largest by GDP) but remains a developing nation with significant wealth disparities, often described as a "rich state, poor people" paradox where vast national wealth contrasts with lower per capita income and pockets of poverty, especially in rural areas, making it neither strictly rich nor poor, but complex and unequal. 

How much is Russia in debt?

Russia's debt is relatively low as a percentage of GDP, with government debt around 16-20% of GDP (2024/2025) and total external debt around $308 billion (Q3 2025), but rising costs for debt servicing are a concern due to high interest rates, even as overall levels remain manageable compared to many nations. 

What country is deepest in debt?

The country with the worst debt depends on how you measure it, but Sudan often leads in debt-to-GDP ratio (around 250%+) due to conflict, while Japan has the highest among developed nations (over 230%), and the United States holds the largest absolute debt (trillions). Other nations with very high debt-to-GDP include Singapore, Greece, and Italy, with emerging economies like Sri Lanka, Laos, and Pakistan also facing severe distress. 

What is the #1 cause of debt in the US?

The leading cause of debt in America, by far, is mortgage debt, making up about 70% of total household debt, as housing is the largest purchase for most Americans. Following mortgages, major drivers of personal debt include auto loans, student loans, credit cards, often used for unexpected expenses like medical bills, and rising costs for necessities like childcare. 

Who owes the US the most money?

The U.S. owes the most money to its own domestic investors and government entities, holding the largest portion of its national debt, but among foreign countries, Japan is the largest holder of U.S. debt, followed by the United Kingdom and China, who consistently rank as the top foreign creditors. 

Does Japan have debt?

Yes, Japan has a very large national debt, the highest in the world relative to its GDP (over 230%), but it has remained stable due to low interest rates, strong domestic ownership (especially by the Bank of Japan), and a large domestic market, though challenges loom as the BoJ scales back bond purchases.
 

Is Switzerland debt free?

The national debt of Switzerland stood at 355.41 billion U.S. dollars in 2024. Between 1990 and 2024, the national debt rose by 214.22 billion U.S. dollars, though the increase followed an uneven trajectory rather than a consistent upward trend.

What is the richest country on Earth?

There isn't one single "richest" country, as it depends on the metric: the United States often leads in total GDP and total private wealth, while smaller nations like Luxembourg, Singapore, Ireland, and Liechtenstein rank highest for GDP (PPP) per capita, indicating higher average economic output per person, thanks to factors like finance, technology, or natural resources.
 

Which country will be the richest in 2050?

By 2050, China is widely projected to be the world's largest economy by total GDP, with India and Indonesia also rising significantly, while the U.S. may fall to third; however, if measured by GDP per capita, smaller, advanced nations like Singapore, Switzerland, or Luxembourg are predicted to be the "richest". The global economic landscape will shift towards emerging markets, with China and India leading a new Asian economic powerhouse. 

What country has the worst economy?

South Sudan is frequently cited as having the world's worst economy due to extreme poverty (over 80% living below the line), ongoing conflict, political instability, and reliance on volatile oil revenues, leading to hyperinflation and food insecurity, with other struggling nations including the Central African Republic, Yemen, and Burundi.