Read more at https://www.channelnewsasia.com/news/asia/from-mao-to-xi-china-economic-roller-coaster-since-1949-11146982
(Updated: )
Ricky Lim
(1) US debt is about US$22 trillion - which is 108% of its GDP - as its GDP is about US$19 trillion.
(2) China debt is about US$5 trillion - which is 46% of its GDP - as its GDP is about US$11.1 trillion
Both US and China debt are borrowed for spendings.
(3) Singapore debt is about US$540 billion - which is 177% of GDP is about US$349 billion.
But Singapore debt is in effect US$0 - because Singapore Government debt is borrowed for investment (not for spending) whereby the return in investment far exceed the debt capital and debt interest.
(2) China debt is about US$5 trillion - which is 46% of its GDP - as its GDP is about US$11.1 trillion
Both US and China debt are borrowed for spendings.
(3) Singapore debt is about US$540 billion - which is 177% of GDP is about US$349 billion.
But Singapore debt is in effect US$0 - because Singapore Government debt is borrowed for investment (not for spending) whereby the return in investment far exceed the debt capital and debt interest.
Jm Chow
The article said: China has "a mountain of debt that the IMF has called "dangerous".
I was wondering exactly how much national debt China has incured as compared with the major economies .
I google and found the result ...National Debt as a percentage of GDP as follows:
Japan : 234.7%
France: 98.8%
UK : 92.2 %
USA : 73.8 %
Germany : 68.2 %
India : 52.3%
S Korea : 46.1%
Indonesia: 29.4%
China : 16.1%
Singapore : 110.5% (not a major economy)
China's national debt to GDP (16% ) is not a mountain of debts...it is the lowest among the major economies of the world.
This is another fake story...to demonize China.
Yes. the Provincial governments have invested in many government linked companies (like Singapore airlines )...with borrowed money to fund direct investments... in infrastructures and GL companies (eg steel mills, ports, rail and power stations) .
Such long term debts (direct investments) generate revenue which substantially contributed to its economic growth ..just like the investments (debt) needed to fund Jurong industrial town and other new townships in Singapore. Such debt (investments) is a GOOD thing (wise Chinese business saying: Using borrowed money to earn more money)..
It is NOT dangerous, as it is fully backed by assets...not unlike borrowing money to buy our house.
I was wondering exactly how much national debt China has incured as compared with the major economies .
I google and found the result ...National Debt as a percentage of GDP as follows:
Japan : 234.7%
France: 98.8%
UK : 92.2 %
USA : 73.8 %
Germany : 68.2 %
India : 52.3%
S Korea : 46.1%
Indonesia: 29.4%
China : 16.1%
Singapore : 110.5% (not a major economy)
China's national debt to GDP (16% ) is not a mountain of debts...it is the lowest among the major economies of the world.
This is another fake story...to demonize China.
Yes. the Provincial governments have invested in many government linked companies (like Singapore airlines )...with borrowed money to fund direct investments... in infrastructures and GL companies (eg steel mills, ports, rail and power stations) .
Such long term debts (direct investments) generate revenue which substantially contributed to its economic growth ..just like the investments (debt) needed to fund Jurong industrial town and other new townships in Singapore. Such debt (investments) is a GOOD thing (wise Chinese business saying: Using borrowed money to earn more money)..
It is NOT dangerous, as it is fully backed by assets...not unlike borrowing money to buy our house.
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