Obviously something has to change in the way the U.S.A. does business. The present model being dysfunctional in regard to sustainability is undergoing change from the White House. With neo-liberal economic policy left uncorrected within a few brief years the nation would have more than half of the planet’s public debt. Japan incidentally, needs to make a deal swiftly since it also has vast public debt- nearly 10 trillion dollars. If the U.S. and Japanese economies tanked that would be a blow to the west.
I asked Gemini about the distribution of public debt…
“Global Public Debt: As of 2023, global public debt reached a record high of $97 trillion.
US National Debt: The US national debt is currently around $36.22 trillion.
Debt to GDP ratio: The US government debt accounted for 124.0 % of the country’s Nominal GDP in Dec 2024.
Top countries holding US debt: As of November 2024, the top 5 countries holding the most US debt are Japan, China, the U.K., Luxembourg, and the Cayman Islands.
Japan’s debt to GDP ratio: Japan’s public debt as of 2023 is $9.2 trillion which is 263% of GDP. “
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