The USA and Chin have the highest debt in the world but i don’t understand the concept of them being some of the wealthiest countries, does that debt need paying off? How do they get this debt? Ultimately it just doesn’t make sense to me.
In: Other
The same reason nobody worries too much if a person that makes $500,000 a year takes out a loan for a million dollars, but someone that makes $40,000 a year can’t get a loan for more then $200,000 or so.
Rich countries have lots of money and can barrow lots of money without it being a serious problem.
Latest Answers