Did a piece for the NYT riffing on Chartbook #152 on the global anti-inflationary pivot and the attendant recession risk. As interest rates rise around the world, as they never have before … Source: World Bank … the questions are Are interest rates too blunt a tool for dealing with a supply-side shock. Will central banks have to use really massive force?
Your wording regarding the extent of debt is different in the printed NYT version of the above analysis: "..the companies and countries around the world that have borrowed in dollars, to the tune of more than $22 trillion by 2019.."
According to a chart from IMF, in 2020, NFC debt alone was about 98% of the world GDP, i.e., about $83 trillion.
Your wording regarding the extent of debt is different in the printed NYT version of the above analysis: "..the companies and countries around the world that have borrowed in dollars, to the tune of more than $22 trillion by 2019.."
According to a chart from IMF, in 2020, NFC debt alone was about 98% of the world GDP, i.e., about $83 trillion.
https://www.imf.org/wp-content/uploads/2021/12/FINAL-eng-global-debt-blog-dec-8-chart-127.jpg