Debt

• China's total foreign debt exceeds $1.4 trillion
• Greece's foreign debt is about 250% of country's GDP
• debt is high in Japan and Greece
• in Japan, Greece, Belgium, Italy, and US, gross government debt exceeds 100% of nation's GDP
• national debt in total dollar is highest in US
• in 2018, national debt of Germany was $2.1 trillion, but it represents 62% of GDP
• in 2018, Japan's debt was 240% of GDP
• crowding out effect: government borrowing competes with private sector, resulting in lower business investment and lower future growth
• national debt that exceeds 90% of a nation's GDP tends to diminish GDP growth which exacerbates government debt
• largest proportion of government debt results from national pension and health care programs