The authors' research, based on a comprehensive new data set, reveals that between 1949 and 2017, the state and its subsidiaries lent about $1.5 trillion to more than 150 countries across the globe — much of which has been hidden from public view.
China is currently the second-largest holder of US government debt, behind Japan. According to data from the US Treasury, China held US$869.3 billion worth of such debt in March, up from US$848.8 billion in February.
In 2021, a remote coal town in northeastern China was forced to undergo an unprecedented financial restructuring. Its struggles since are an ominous sign for Chinese President Xi Jinping as other heavily indebted municipalities look set to follow suit.
At the end of 2021, of the 98 countries for whom data was available, Pakistan ($27.4 billion of external debt to China), Angola (22.0 billion), Ethiopia (7.4 billion), Kenya (7.4 billion) and Sri Lanka (7.2 billion) held the biggest debts to China.
In 2021, a decade after Parks and his team began their hunt, they had gathered enough information for a blockbuster finding: At least $385 billion of hidden and underreported Chinese debt in 88 countries, and many of those countries were in far worse shape than anyone knew.
Australia also partners with the World Bank Group on specific development programs which support Australia's development policy priorities. Over the last five years, Australia's annual average contributions to the WBG (core and non-core) has been around USD400 million.
U.S. debt to China comes in the form of U.S. Treasuries, largely due to their safety and stability. Although there are worries about China selling off U.S. debt, which would hamper economic growth, doing so in large amounts poses risks for China as well, making it unlikely to happen.
At the end of 2021, of the 98 countries for whom data was available, Pakistan ($27.4bn of external debt to China), Angola (22.0bn), Ethiopia (7.4bn), Kenya (7.4bn) and Sri Lanka (7.2bn) held the biggest debts to China.
The national debt of Russia was forecast to increase between 2023 and 2028 by in total 36.3 billion U.S. dollars (+7.71 percent). This overall increase does not happen continuously, notably not in 2027 and 2028. The national debt is estimated to amount to 507.15 billion U.S. dollars in 2028.
Nigeria: China owns $3.1 billion of the country's total $27.6 billion foreign debt. The Nigerian financial publication Nairametrics warned about falling into a Chinese debt trap because of Nigeria's problems with corruption.
Japan and China have been the largest foreign holders of US debt for the last two decades. Japan and China held almost 50% of all foreign-owned US debt between 2004 and 2006. However, this has declined over time, and as of 2022 they controlled approximately 25% of foreign-owned debt.
According to data published by London-based investment fintech Invezz, Japan, Greece, Italy, Portugal, and the US are the top five nations with the highest level of government debt.
Australia Total Debt accounted for 264.0 % of the country's GDP in 2022, compared with the ratio of 270.3 % in the previous quarter.
China's debt overhang far exceeds the burdens facing the United States. As recently as 2020, total debt in the United States relative to GDP exceeded China's. But as of mid-2022, China's relative debt burden stood 40 percent higher than America's.
China has little overseas debt, and a high national savings rate. In addition, most of the debt is state owned – state-controlled banks loaned funds to state-controlled firms – giving the government the ability to manage the situation.
The Russian government owes about $40 billion in debt denominated in U.S. dollars and euros, and half of those bonds are owned by foreign investors. And Russian corporations have racked up approximately $100 billion in foreign currency debt, JPMorgan estimates.
This debt is further broken down in data by the Bank for International Settlements. Exposure to Russian debt was highest in Italy and France, where upwards of $25 billion was owed each at the end of the third quarter of 2021. In Austria and the U.S., exposure stood at $17.5 billion and $14.7 billion, respectively.
Additionally, buying and selling Russian debt is now easier as banks including JPMorgan Chase & Co., BofA Securities and Citigroup Inc. have all relaunched trading after receiving updated guidance from the U.S. Treasury on bond trading restrictions in July, according to people familiar with the matter.
Investors in Japan and China hold significant shares of U.S. public debt. Together, as of September 2022, they accounted for nearly $2 trillion, or about 8 percent of DHBP.
$19.373 trillion (nominal; 2023 est.) $33.014 trillion (PPP; 2023 est.)
China's Debt-to-GDP Ratio Rises to Record 279.7% on Credit Boom - Bloomberg.
If the China bloc disposes of net foreign assets amounting to more than 20% of GDP by offloading US bloc bonds over 10 years, the IMF finds that the China bloc's domestic interest rates would fall by four basis points.
Yes, when China sells U.S. Treasuries in bond markets, that pushes the prices of bonds down generally. And cheaper prices for bonds means higher bond “yields,” or interest rates. So China's sales do piggyback onto similar sales by the Federal Reserve to implement its policy of raising short-term interest rates.
With $1.1 trillion in Treasury holdings, Japan is the largest foreign holder of U.S. debt.