Which country is owing the most?

The United States owes the most money in absolute terms, with its government debt exceeding $38 trillion, followed by China and Japan; however, when debt is measured as a percentage of GDP (debt-to-GDP ratio), Japan has a very high burden, and countries like Greece or Lebanon face extreme levels relative to their economic output, with the U.S. also having a significant debt load compared to its GDP. Different metrics show different leaders, but the U.S. consistently tops lists for total debt.

Which country has the highest debt?

The United States has the largest national debt in absolute dollar terms, with figures nearing $38 trillion in late 2025, followed by China and Japan. However, when debt is measured as a percentage of economic output (debt-to-GDP), Japan has the highest ratio (over 230%), indicating a greater burden relative to its size, with other high-ratio countries including Greece and Italy.
 

Which country owns most of our debt?

Investors in Japan and China remain among the largest foreign holders of Treasury debt. Foreign ownership of U.S. debt can have implications for the nation's economy and financial markets.

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.

Who is in more debt, the US or China?

Yes, China's total national debt (government, corporate, and household) as a percentage of GDP is now generally considered higher than the U.S., though the U.S. has a much larger absolute dollar amount of government debt; China's debt, especially local government and SOE debt, has surged, reaching over 300% of GDP, exceeding the U.S.'s debt-to-GDP ratio and posing significant economic risks due to reliance on credit-fueled growth, state-owned enterprise leverage, and property sector issues. 

The UK Wants to SHAME YOU to Stay

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 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.

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.

Does Russia have a national debt?

Yes, Russia has a national debt, but it's relatively low compared to many developed countries, with its government debt to GDP ratio hovering around 16-20% in recent years (2023-2024), though it can fluctuate, and the country maintains significant cash reserves, meaning most of its debt is domestic. While Russia's total gross debt includes substantial private (corporate) debt, its public debt remains manageable, with low external debt and large reserves, making it financially resilient despite sanctions, notes The Moscow Times and Trading Economics. 

Has America ever paid off its debt?

Yes, the U.S. paid off its entire national debt for the only time in history on January 1, 1835, under President Andrew Jackson, primarily from land sales and budget surpluses, but it was short-lived, with debt reappearing quickly and growing again due to economic events like the Panic of 1837, leading to continuous borrowing since. 

Do Americans borrow money from China?

Yes, the U.S. still owes China money, as China holds a significant amount of U.S. Treasury bonds, making it one of the largest foreign holders after Japan, though China has been reducing its holdings, moving from a top holder to around the second or third spot as the U.S. relies more on domestic investors and other nations, but it's a small portion of the total U.S. debt, which is owned mostly by Americans. 

Why did China buy U.S. debt?

China buys U.S. debt, primarily {!nav}Treasury bonds, to manage its huge trade surpluses, keep its currency (the Yuan) weaker for export competitiveness, and store vast U.S. dollar reserves in a safe, liquid, and stable asset, creating a mutually beneficial, yet interdependent, financial relationship with the U.S. 

What is the poorest country in the world?

As of late 2025/early 2026, South Sudan is widely considered the poorest country in the world, consistently ranking last or near-last by GDP per capita due to civil conflict, political instability, and resource issues, though Afghanistan also appears at the very bottom in some rankings. Other nations like Burundi, Central African Republic, and Yemen also face extreme poverty.
 

Who has the most debt on Earth?

The United States has the most government debt in absolute dollar terms, exceeding $38 trillion, followed by China and Japan, with the top three countries holding about 60% of the world's total government debt. While the U.S. has the largest amount, Japan often ranks high for debt as a percentage of its GDP (Gross Domestic Product). 

Why is the US in so much debt?

The U.S. is in so much debt because it consistently spends more than it collects in revenue, creating annual deficits that add to the national debt, driven by structural issues like aging populations, rising healthcare costs, interest on existing debt, and unfunded tax cuts, alongside significant emergency spending during crises like wars and the COVID-19 pandemic. A tax system not generating sufficient revenue to cover promised spending, especially on Social Security and Medicare, exacerbates this imbalance. 

How much does China owe the USA?

China holds a significant amount of U.S. debt, primarily in Treasury bonds, with recent figures (late 2024/early 2025) showing China owning around $750-$800 billion in U.S. securities, making it the second-largest foreign holder after Japan, though this is a smaller percentage of the total U.S. debt. This amount fluctuates as China has been reducing its holdings, but it represents loans from China to the U.S. government, not a debt the U.S. owes to China in a punitive way, but rather investments in U.S. assets. 

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.

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. 

What happens if the USA can't pay its debt?

A default on all outstanding U.S. Treasuries would almost surely precipitate a global financial crisis. Further, because about 70% of the debt is held by Americans, most of the savings from foregone interest payments would be at the expense of U.S. investors.

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. 

Is $20,000 a lot of debt?

If you're carrying a significant balance, like $20,000 in credit card debt, a rate like that could have even more of a detrimental impact on your finances. The longer the balance goes unpaid, the more the interest charges compound, turning what could have been a manageable debt into a hefty financial burden.

Could China survive without the US?

Yes, China could survive without the U.S. because it has diversified its trading partners significantly, particularly within Asia, the EU, and the Global South, and possesses a massive internal market, but losing the U.S. market would still cause significant economic disruption, slow growth, and impact its technological development in key areas like semiconductors, forcing reliance on domestic innovation or alternative partners like Europe. 

Who is buying U.S. debt now?

Annual totals are based on data from April of each year. Inflation adjusted to the 2023 calendar year. As of April 2024, the five countries owning the most US debt are Japan ($1.1 trillion), China ($749.0 billion), the United Kingdom ($690.2 billion), Luxembourg ($373.5 billion), and Canada ($328.7 billion).

Why doesn't China call in U.S. debt?

Treasury bonds are freely traded financial instruments, China cannot —nor can any other creditor—simply demand a repayment at their will. Additionally, because the U.S. controls its own currency, it has the ability to manage its debt through fiscal and monetary policies.