Led by China and US borrowing, the world now owes a record US$365 trillion debt: IIF

The world's total debt has reached a record high of over US$365 trillion, according to the Institute of International Finance. This increase is largely driven by China and the United States, which together account for the bulk of the growth. The rising debt levels are a concern for global fiscal sustainability, as they can make it more difficult for countries to manage their finances and respond to economic shocks.

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The record high debt level could lead to decreased investor confidence and increased borrowing costs. This may negatively impact global economic growth and stability.

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