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Aug. 23, 2011 According to The Jacob W. Report, when gross public debt is considered as a percentage of a nation’s gross domestic product, it turns out Japan takes the top spot. The United States ranks 7th. Here are the 10 developed countries with the most gross debt, compared to GDP, based on the OECD's projections for 2011:
Japan - 213 percent of GDP Japan’s debt is more than double its annual gross domestic product, according to many estimates, while the United States’ gross national debt is closer to 100 percent of gross domestic product. "In Japan, much of the nation’s debt is held domestically," said Jan Randolph, director of sovereign risk for economic research firm IHS Global Insight. "By contrast, much of the United States’ debt is held by other countries, such as China."
China holds about 8 percent of all U.S. debt. Other foreign governments together hold another 25 percent of the total.
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