The world has a debt problem.
Specifically, debt as a percentage of GDP has climbed to very high levels throughout the world. Developed markets on average have much higher debt than emerging markets, but emerging markets often owe debt in currencies they don’t control (like dollars), so it’s a very large problem all around the globe, albeit with different magnitudes and different styles in different places.
A 2019 report by the International Monetary Fund found that, using 2018 figures, total global debt was $188 trillion, or over 220% of global GDP. When private and public