Global Debt at Record High, Raising Fears of Another money crisis | Vantage with Palki Sharma
The world is drowning in debt, with the total amount owed now reaching a staggering $315 trillion, which is nearly three times the global GDP. The debt is spread across households, businesses, and governments. Experts warn that this unsustainable level of debt raises the uncertainty of large-scale defaults, which could trigger a new money crisis. Large debt burdens can have devastating consequences, especially for households. Defaults can lead to families losing their homes and savings. Further, the rise of “Buy Now, Pay Later” (BNPL) platforms is creating more risks. These platforms offer easy loans with flexible repayment options, but they often come with high-debt charge rates. Palki Sharma tells you more.
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Global GDP | USA | China | Debt | Economy | Defaults | Global uncertainty | India | BNPL | JPMorgan Chase | Jamie Dimon | Firstpost | World News | Vantage | Palki Sharma
#usa #economy #globaldebt #globalrisk #firstpost #vantageonfirstpost #palkisharma #worldnews
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