University of Sheffield postgrad Ben Henning took a look at the real dimension of the world’s external debt. The map reflects the ratio of debt to GDP, based on 2010 estimates by the World Bank and CIA.
A developing world of debt
Years after debt campaigners succeeded in persuading the International Monetary Fund (IMF), World Bank and to abolish debts worth billions of dollars owed by developing countries, figures show total external debts are once again on the increase.
In the Western powers granted Germany relief on its external debts with very few conditions attached, and now Greece is struggling to get that same amount with absolutely impossible conditions attached
China total debt (govt.+corp.+HH) is up by 58% since Jan-09 to 200% GDP but is still mostly domestic i.e. loans by state-owned banks to state-owned cos, with little risk of calling bad loan. external debt is $1tn