US Debt To GDP Hits A Record Level But China Catching Up Quickly

China’s rapidly growing corporate and personal debt is always cited as being one of the main risks to the global economy. The country’s debt mountain has exploded higher since the financial crisis, and after the World Economic Forum had warned that China's debt would increase by a worrying $20 trillion by 2020 and could soon catch up to the US Debt To GDP levels.

It seems policymakers took it upon themselves to make sure this target was not only met but also exceeded. By 2016 debt had increased to $22 trillion and the current rates it will hit $50 trillion by 2020. In the first quarter of 2017 , China added debt equal to more than 40% of GDP. Policymakers...