Learning about Countries and Their Debt The best example can be taken from Hong Kong (it is a one of the debt free countries), whose economy has the least debt to GDP ratio. It is an almost debt free country. It has a well-regulated financial system and large foreign reserves.
Japan has the highest percentage of national debt in the world at 259.43% of its annual GDP.
As of January 2023, the five countries owning the most US debt are Japan ($1.1 trillion), China ($859 billion), the United Kingdom ($668 billion), Belgium ($331 billion), and Luxembourg ($318 billion).
The total debt of China's LGFVs has swelled to a record 66 trillion yuan ($9.5 trillion), equivalent to half of the country's economy, from 57 trillion yuan last year, according to an International Monetary Fund (IMF) report last month.
The countries with the biggest debt burdens in relative terms were Djibouti and Angola, followed by the Maldives and Laos, which opened a debt-laden railway line to China last year. The President of the World Bank, David Malpass, has called the level of debt “unsustainable” that many countries once again hold.
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.
China's outstanding foreign debt, including US dollar debt, reached US$2.29 trillion at the end of September in 2020, up from US$2.13 trillion at the end of June, according to China's State Administration of Foreign Exchange.
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.
A flurry of big spending packages and ballooning social welfare costs for a rapidly ageing population have left Japan with a debt pile 263% the size of its economy - double the ratio for the United States and the highest among major economies.
China's debt is nearly 44% of its GDP and its local governments owe nearly $5.14 trillion. With the economic slowdown and collapse of land sales revenue, provinces and local governments in China are facing an embarrassing situation.
TikTok, which has over 150 million American users, is a wholly owned subsidiary of Chinese technology firm ByteDance Ltd., which appoints its executives. ByteDance is based in Beijing but registered in the Cayman Islands, as is common for privately owned Chinese companies.
Overall, foreign countries each make up a relatively small proportion of U.S. debt-holders. Although China's holdings have represented just under 20 percent of foreign-owned U.S. debt in the past several years, this percentage only comprises between 5 and 7 percent of total U.S. debt.
By 2020, China's innovation and advanced-industry capabilities increased to roughly 75 percent of U.S. capabilities on a proportional basis and 139 percent in absolute terms.
With $1.1 trillion in Treasury holdings, Japan is the largest foreign holder of U.S. debt. Japan surpassed China as the top holder in 2019 as China shed over $250 billion, or 30% of its holdings in four years.
This has turned China into the world's largest official creditor — surpassing traditional, official lenders such as the World Bank, the IMF, or all OECD creditor governments combined. Despite the large size of China's overseas lending boom, no official data exists on the resulting debt flows and stocks.
India takes the top spot. Its $39.7bn debt towards the WB recorded at the end of 2021 is double that of the next biggest debtor, Indonesia, with $19.6bn.
In some cases Victoria's finances are compared with New South Wales, Queensland and Tasmania combined. Mr Guy and Mr Davis have also said Victoria's net debt is "the biggest debt of any state in Australia".
Sayed-Khaiyum says Fiji's total government debt is $4.861 billion while our total loan from China is $516 million.
Both are owned by Beijing-based parent company ByteDance, but Douyin launched before TikTok and became a viral sensation in China. Its powerful algorithm became the foundation for TikTok and is key to its global success.